Terra Luna Classic (LUNC) price has become a whale’s playground as the price is experiencing massive volatility spikes. The price pumped 29% in a single day on June 4, and suddenly tanked 33% within the next few days. The latest analysis reveals that the whales are manipulating the Terra LUNA price to maximize their gains.
On Thursday, LUNC crypto price is trading at $0.000096. The price is 2.7% up on a day when most cryptocurrencies, including BTC, are showing a very negative price action. There is a key level on the chart that the bulls need to hold to avoid the further downside.
Terra LUNA Classic Is Unlikely To Recover
According to the latest Terra LUNA Classic news, the project founder, Do Kwon apparently has political ties in Montenegro, where he was recently arrested. The revelation was made by the Prime Minister of the European nation.
Earlier, the price tanked very hard when the founder was apprehended by the Montenegro police a few months ago. The negative news and lack of any fundamental development are what is keeping the LUNC price in a downtrend on a higher timeframe.
LUNC Price Eyes 56% Drop
I’ve repeatedly mentioned the significance of the $0.0001200 level in my previous Even after a 29% surge in a single day, LUNC crypto failed to break above this level and faced another rejection. Therefore, my LUNC price prediction will remain bearish till the price breaks above the $0.00001200 level on its daily chart.
Currently, the price is trading below the key psychological level of $0.00010000. However, there could be more downside if the price loses its $0.000085 support level. In case of a breakdown, Terra LUNA Classic price may retest the $0.000042 level, which is more than 50% below the current price.
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