Terra Luna Classic Price Prediction as 10 May Marks 1 Year Anniversary of LUNA and UST Crash – Will Important News be Announced Today?
The Terra Luna Classic price has gained by 8% in the past 24 hours, rising to $0.00009048 on the day the cryptocurrency witnesses the one-year anniversary of the infamous Terra crash.
This crash saw both LUNA and its sister stablecoin UST become almost worthless overnight, yet it seems that LUNC -- the cryptocurrency running on the original Terra chain -- has risen on the expectation that positive news may be announced to mark the anniversary.
Despite today's surge, LUNC remains down 15% in a week and by 28% in the past month, with the coin also down by 37% since the beginning of the year.
But with the one-year anniversary raising fresh hopes, and with the Terra Luna Classic community constantly pushing to update the Terra chain, it may not be too long before LUNC sees what is arguably an overdue rally.
LUNC's chart shows the altcoin in a promising position, with its 30-day moving average (yellow) beginning to rise towards its 200-day (blue), indicating an incoming rally.
While its relative strength index (purple) has dropped after a surge towards 80, it remains above 50, signalling that LUNC continues to attract positive momentum.
More bullishly, LUNC's support level (green) has risen strongly in the past couple of days, with the coin's price forming a pennant that could suggest a breakout.
As noted above, LUNC's rally today is largely the product of the one-year anniversary of the Terra de-peg, during which UST lost its 1:1 peg with the US dollar and during which trillions of LUNA was issued in an attempt -- a failed attempt -- to shore up its price.
Fast forward to today, and it seems that either the LUNC community are 'celebrating' the occasion by deliberately pumping the coin, or that there is some genuine expectation that
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