Terra Luna Classic Price Prediction: 300% Pump, 40% Dump, Is the Worst Yet to Come?
Terra Luna Classic (LUNC) is testing the 50% Fibonacci ratio and could see declines to the 200 EMA confluence before the next rebound. Despite most cryptocurrencies recovering, LUNC continues its decline. Bitcoin surged past $43,000 after the Federal Reserve's announcement of three rate cuts in 2024. Ethereum, Solana, and Cardano also bounced back, with Ether nearing $2,300 and Solana hitting $80. However, LUNC faces challenges after an initial rally following a community proposal, with a 300% increase halting and leading to retracement. Traders may have started shorting LUNC, targeting profits based on the 50% Fibonacci retracement ratio. With LUNC's price below key moving averages, further declines are possible.
