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Terra Luna Classic Price Prediction as LUNC Bounces 30% From Recent Bottom Where Next for LUNC? Despite falling around 5% on Friday the (LUNC) price remains over 20% up versus the lows it printed earlier in the year near $0.00010 Luna price was last around $0.00012 having reversed sharply back from earlier session highs in the upper $0.00013s LUNC drop comes as the broader market falls on sell-the-fact sell pressure follow the SEC’s Btc ETF approval BTC was last trading in the $43,000s down over 10% from its two-year highs on Thursday The latest reversal lower suggests that the Luna price remains stuck in a short-term downtrend Luna price predictions are thus likely to remain pessimistic despite it still being 20% up from a recent low Luna is the crypto that powers the original Terra blockchain which experienced a spectacular blow-up in May 2022 It once had a price of above $120 per token But after Terras algorithmic stablecoin UST depegged from the USdollar a rush to redeem the failed stablecoin for LUNC caused hyperinflation in the token driving it to its current price level of a fraction of a cent Price Next for the Luna Classic Price LUNC latest reversal comes after the crypto rejected a retest of its 21DMA The 21DMA has been acting as strong support going all the way back to mid-Dec The Luna price reversal also confirms that the downtrend from the one-year highs hit by LUNC in Nov remains intact Chart technicals are thus all pointing to more downside for the Terra Luna price A retest of 2024 lows at $0.00010 look likely in the short term And in the longer term the outlook is even worse LUNC market cap is currently just above $700 million That a lot for a coin that has basically no utility Whilst the Terra blockchain lives on its ecosystem of users and developers is virtually non-existent The ecosystem died in May 2022 when UST depegged and LUNC hyperinflated triggering billions in losses to users and invest The token has become more a speculative shitcoin than anything else in the last few years A drop back to 2023 lows around $0.00005 looks likely for 2024

Terra Luna Classic Price Prediction as LUNC Bounces 30% From Recent Bottom Where Next for LUNC?

Despite falling around 5% on Friday the (LUNC) price remains over 20% up versus the lows it printed earlier in the year near $0.00010

Luna price was last around $0.00012 having reversed sharply back from earlier session highs in the upper $0.00013s

LUNC drop comes as the broader market falls on sell-the-fact sell pressure follow the SEC’s Btc ETF approval

BTC was last trading in the $43,000s down over 10% from its two-year highs on Thursday

The latest reversal lower suggests that the Luna price remains stuck in a short-term downtrend

Luna price predictions are thus likely to remain pessimistic despite it still being 20% up from a recent low

Luna is the crypto that powers the original Terra blockchain which experienced a spectacular blow-up in May 2022

It once had a price of above $120 per token

But after Terras algorithmic stablecoin UST depegged from the USdollar a rush to redeem the failed stablecoin for LUNC caused hyperinflation in the token driving it to its current price level of a fraction of a cent

Price Next for the Luna Classic Price

LUNC latest reversal comes after the crypto rejected a retest of its 21DMA

The 21DMA has been acting as strong support going all the way back to mid-Dec

The Luna price reversal also confirms that the downtrend from the one-year highs hit by LUNC in Nov remains intact

Chart technicals are thus all pointing to more downside for the Terra Luna price

A retest of 2024 lows at $0.00010 look likely in the short term

And in the longer term the outlook is even worse

LUNC market cap is currently just above $700 million

That a lot for a coin that has basically no utility

Whilst the Terra blockchain lives on its ecosystem of users and developers is virtually non-existent

The ecosystem died in May 2022 when UST depegged and LUNC hyperinflated triggering billions in losses to users and invest

The token has become more a speculative shitcoin than anything else in the last few years

A drop back to 2023 lows around $0.00005 looks likely for 2024

Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.
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