Terra Luna Classic price (LUNC-USD) is in hot waters again as cryptocurrencies face a massive correction. The decline in Bitcoin price has triggered a market-wide sell-off that has sent most altcoins below their key supports. LUNC crypto also retested its range lows on the weekend but bounced off immediately.
LUNA classic started the week with minor gains of 0.55% on Monday. At press time, LUNC crypto is trading at 0.000145 on its first green day during the last four days. The price also made fresh yearly lows during the weekend. This is a very disappointing price action as the price was trading 45% above the current level just a few weeks ago.
When Will LUNC Recover?
Terra Luna classic price is currently trading 99.99% below its all-time high. Many victims of the LUNA crash are still holding LUNC, thinking that it will recover one day. However, it is impossible for the price to recover back to its pre-crash level as the coin’s supply has increased massively.
Even a target of $1 appears to be a far cry, as it will put the LUNC market cap at 5.9 trillion. Without any fundamentals and network activity, such a valuation seems to be unrealistic. Therefore, I expect this coin to keep trading sideways with massive volatility spikes till the foreseeable future. Any new investors must also learn about the LUNA crash before apeing into buying the cryptocurrency.
Luna Classic Price Prediction
Many pseudo-analysts are giving the LUNC holders sky-high targets just to get their attention. There’s nothing more painful in crypto than holding a coin and watching it drop by 99.99% overnight. However, the fact is that the LUNC project has been abandoned even by its creator, Do Kwon. Therefore, as a holder, you must take any insanely high Terra Luna classic price prediction with a pinch of salt.
Nevertheless, our technical analysis suggests that the holders need to mark a few key levels on their charts. A daily closure below the $0.00012 level will mean curtains for any bullish thesis. For a proper bullish reversal, the price needs to reclaim the year-high of $0.00021, which won’t be easy under the current circumstances.
