The Terra Luna Classic price has dropped by 3% today, with its fall to $0.00007531 coming as the wider market suffers a 1% dip in the past 24 hours.
LUNC has also lost 4% in a week, although the altcoin holds onto a 14% gain in a fortnight and a 30% increase in the last 30 days.
Yet today’s loss is a disappointment, with it coming as an AI-based seven-year outlook from CoinCodex suggests that LUNC could suffer a 100% decline from its current level.
However, the Terra Luna Classic community is working hard to improve the tokenomics of both LUNC and its sister stablecoin (USTC), with a recent proposal looking very hopeful for the altcoin.
LUNC’s chart doesn’t look great right now, with its indicators all signalling a loss of momentum that could continue for at least several days yet.
Its RSI (purple) is slipping down to 50 and could easily descend further, with the coin not entering an oversold position until the level reaches 30 or below.
Likewise, LUNC’s 30-day average (yellow) is beginning to flatten, after spending a couple of weeks rising more strongly towards the 200-day average (blue).
It now seems as though the 30-day will not climb over the 200-day, while it’s also significant that LUNC’s current price has dropped blow the longer term average.
Again, this signals further falls to come, although it will be interesting to see if LUNC’s current support level (green) could prevent significant falls.
And to cap a bad couple of days, CoinCodex’s latest AI-based forecast for LUNC suggests that the altcoin could drop to $0.000000003107 by 2030.
This would mark a 100% decline from LUNC’s current price, and given that LUNC is already technically 100% down from its all-time high of $119 (set in April 2022), it would certainly beRead more on cryptonews.com