Terra Luna Classic Price Prediction as LUNC Approaches Lowest Level in 2 Months – Will LUNC Keep Falling?
The Terra Luna Classic price has just about risen by 0.5% in the past 24 hours, yet its current level of $0.00005632 represents an 8% decline in a week.
And with LUNC also down by 6.5% in a month and by 81% in the past year, the altcoin is definitely in the middle of a prolonged downturn, with the past few months bringing little beyond ongoing declines.
Most of LUNC's problems relate to the inability of the Terra Luna Classic community's to do anything concrete to support its price or ecosystem, and while efforts on this front are ongoing, it will take something big to dislodge the skepticism that has set in concerning the token.
As such, LUNC remains likelier to fall further than to rally big, unless something major changes soon.
There's not really anything happening in LUNC's chart to suggest that the coin is about to enjoy a recovery rally, even if its weeks and weeks of being oversold would (normally) imply that a rebound is long overdue.
LUNC's 30-day exponential moving average (yellow) remains very far below its 200-day average (blue), and instead of looking as though it's about to rise up it continues to decline.
This is a very bad sign, as is the fact that LUNC's relative strength index (purple) remains just below 40, although it has bounced a little after nearing 35 yesterday.
It's unlikely that this bounce marks the beginning of an upwards correction, given that the altcoin's support level (green) has been sliding downwards for several weeks now, if now months.
Such technicals all provide the impression that LUNC is suffering a long-term decline that could be fatal unless its community does something very special very soon.
Another worrying sign of LUNC's potential death is the fact that its 24-hour trading volume has
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