Will LUNC Rise to $1?
The cryptocurrency LUNC has had a 6% increase over the course of one week and a 13% increase over a two-week period, with its current value at $0.00006493. However, it is important to note that LUNC has seen a significant decline of 73% during the last 12 months.
The aforementioned fall indicates that #LUNC may be experiencing a sustained decrease over an extended period, a circumstance that is unlikely to be alleviated by the aforementioned arguments against Terraform Labs.
However, the Terra Luna Classic community that remains is actively engaged in efforts to enhance the cryptocurrency and its associated ecosystem. Consequently, there is potential for more improvements and recoveries in the future.
The article discusses the price prediction of Terra Luna Classic (LUNC) and the legal proceedings involving Do Kwon and Terraform Labs. The authors argue that they have not engaged in any wrongful activities. The question arises whether the price of LUNC will increase to $1.
Although LUNC has experienced a challenging year, its present indicators exhibit a rather positive outlook, indicating the potential for more increases.
The 30-day average, seen in yellow, is exhibiting robustness as it ascends towards the 200-day average, represented by the blue line. This upward movement may indicate the likelihood of an imminent breakout rally.
However, there are some concerning indicators that may prompt prospective purchasers to contemplate further.
To begin with, there has been a persistent reduction in LUNC's support level (green) during the preceding months. Although the current price of LUNC is now above its support level, the previous historical trend indicates a potential regression if market mood deteriorates.
Additionally, it is noteworthy to examine the volume bars depicted in the aforementioned chart, denoted by the colors green and red. These bars indicate that the most significant surge in trading volume within recent days occurred during a period of selling activity.
This implies that those who possess $LUNC are primarily focused on divesting from their holdings as soon as they realize any form of profit.
This occurrence may not bode well for the future of LUNC. However, certain individuals may perceive the recent move by Terraform Labs attorneys to dismiss the lawsuit as optimistic.
Nevertheless, there is a valid contention that the request may not be granted by the judge, so placing Terraform Labs and Do Kwon in the arduous position of having to contend with a challenging legal battle.
This has the potential to adversely affect LUNC, as its success is closely tied to the Terra Luna Classic community's ability to effectively reduce the coin's supply and enhance its ecology.
However, it is important to note that the lack of substantial advancements in these areas may be attributed mostly to internal conflicts among members of the community, which in turn has had a significant influence on the price of Terra Luna Classic.
Therefore, in order to see future growth, LUNC will require more market-wide rallies, since failure to do so may result in a continued decline.