Terra Classic (LUNC) price is looking for a fresh start in cryptocurrency after suffering through several unfavorable feelings. Investors are closely monitoring the price of LUNC in the coming days to understand how Terra Classic might fare. The Terra Classic community has taken several steps to increase the token’s usability.
PricePredictions is one of the tools used to forecast the likely future price of the LUNC, according to the most recent data received on April 17. According to the estimate, LUNC’s price behavior may continue to be bearish shortly. By April 30, Terra Classic might trade for $0.000124.
LUNC 30-day price forecast | Source: PricePredictions
A critical turning point in the price trend of Terra Classic is approaching as the token fights to regain positive momentum. LUNC is trading at about $0.0001249, down 1.95% from the previous day’s price. The token has, though, managed to post a gain of 0.95% over the past week, indicating some degree of resistance to bearish influences.
Terra Classic has a critical support level at $0.00012, which might serve as a launchpad for the token’s price if it can overcome its present downturn. The coin, however, encounters a strong resistance level around $0.00013, which can constrain its upward potential in the immediate future.
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LUNC 1-day price chart | Source: CoinMarketCap
With a market capitalization of $736 million, Terra Classic is among the top 70 digital assets by value. Despite its recent setbacks, it continues to be a key player in the cryptocurrency market. All eyes will be on whether the token can break past its present resistance level and resume an upward trajectory as traders and investors keenly watch LUNC’s price fluctuations.
According to TradingView’s technical analysis, the bears currently dominate Terra Classic’s price trajectory. The analysis shows that the sentiment indicator for a one-day view is at 16, which suggests a “strong sell” sentiment and an unfavorable outlook for the token’s price. With a sentiment index of 14, the moving averages likewise exhibit a gloomy attitude.
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LUNC 1-day technical analysis | Source: TradingView
Finally, Do Kwon reportedly sent millions of dollars to lawyers before the company’s demise. According to the report, the action may have been an effort to preserve his assets and those of his associates in light of the firm’s escalating regulatory and legal issues.
Early this year, Terraform Labs, best known for its Terra stablecoin, saw a dramatic decline in value, sparking questions about its financial situation. But, it appears that Do Kwon-related bad news is having less and less of an effect on the price of LUNC.
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