Terra Classic (LUNC) has experienced a decrease in price in the last 24 hours. The price has decreased by 2.28% and LUNC was trading at $0.00005852. In terms of market capitalization, LUNC ranks 90th.
Will LUNC Rise?
Unlike other cryptocurrencies, last week was not a time of growth but a time of decline for LUNC. The cryptocurrency experienced a 9% decrease in price. Over the past 14 days, there has only been a 3% price increase. Perhaps the biggest problem lies in the hidden 81% decrease it experienced within a year.
These declines had made investors who were expecting an increase in LUNC since the beginning of 2023 nervous. The closely-followed community, which closely follows the cryptocurrency, continues its efforts to increase the value of both LUNC and USTC.
Uncertainty surrounding LUNC may support the downward movement of the price. The price prediction asked to algorithms by PricePredictions on October 4th also supports this view. The reason for directing this question to the algorithms was to predict the potential price of LUNC by the end of October.
According to the algorithm’s prediction, Terra Classic is expected to trade at $0.000055 on October 31st. According to the statement made by PricePredictions, several key technical indicators were used, including moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more.
When the technical indicators are examined, the price drop for LUNC started on Monday, October 2nd. Interestingly, this happened right after the recovery in the market. Several management changes that were expected to have an impact on the price recently did not create the expected effect on LUNC’s price. This also indicates that investors are not very interested, considering these factors.
Terra Classic Price Analysis
Terra Classic is trading at $0.00005877. Considering this trading price, it can be seen that there is still a complex price environment for investors. A clear price decrease of 2.28% was also reflected in the charts in the last 24 hours.
When we examine the price movements of LUNC, the first notable point is the resistance level at $0.00006. This resistance level clearly stands as an obstacle to the rise. When we examine the support level, the $0.00005 area indicates the region where investors who want to buy are concentrated.
