The price of #Terra Luna Classic has had a decline of 3% throughout the last 24-hour period, resulting in a value of $0.00005928. This decrease in price has caused the altcoin to occupy the 100th position in the rankings of cryptocurrency market capitalization.
The LUNC index has seen a decline of 3.5% during the course of the previous week. Although it has exhibited a positive growth of 3% over the last 14 days, it still maintains a decrease of 1% over the span of a month and a significant decline of 81% over the past year.
The aforementioned declines indicate a sustained decrease that has affected #LUNC since 2023, during which the community associated with the currency has had difficulties in advancing its value as well as that of its associated stablecoin, $USTC .
It is probable that $LUNC would see a sustained decline in the future. However, if proactive measures are implemented to enhance its ecology and value, there is a possibility of a subsequent resurgence in its market performance.
The price prediction for Terra Luna Classic is being discussed as LUNC experiences a decline in its ranking, dropping to the 100th position among cryptocurrencies. This development raises questions about the future prospects of Terra Luna Classic.
Following the market's rebound on Monday, the stock of LUNC is currently experiencing a further decline, accompanied by corresponding adjustments in its technical indicators.
Additionally, an indication of vulnerability can be observed in the 30-day moving average (yellow) of LUNC, as it is now experiencing difficulty in recovering despite appearing to stabilise over the previous week. Furthermore, this average remains much lower than the coin's long-term 200-day average (blue).
These signs warrant attention, and it will be intriguing to observe whether LUNC's existing short-term support level (shown by the colour green) can withstand a decline below $0.0000590.
If the price does decrease below this threshold, it is probable that more declines will occur, as indicated by the persistent decline of LUNC's long-term support level over the whole year.
There appears to be a decline in the overall market's enthusiasm for LUNC, as seen by the little influence on its price despite the unsuccessful implementation of several governance initiatives in recent weeks and months.
The current proposal under consideration for vote in the Terra Luna Classic pertains to the allocation of funds towards a proficient group of developers. Their objective is to execute a comprehensive roadmap of enhancements with the intention of augmenting the worth of the Terra Classic blockchain. The ultimate goal is to propel this blockchain to its rightful position.
Nevertheless, it appears that a considerable number of significant validators and members of the community are expressing their opposition towards it, contending that the proposed strategy lacks feasibility.
This observation is significant as it raises the question of the feasibility of these goals from the perspective of engaged community members. Consequently, an external observer may inquire about the prospects of Terra Luna Classic and LUNC in the future.
According to a pessimistic viewpoint, there would be no viable options available.
Undoubtedly, it is noteworthy to observe that individuals are actively engaging in substantial discussions on the potential revival of Terra Luna Classic. Consequently, it may be premature to assert definitively that its recovery is unattainable.
However, at now, it is plausible that the downward trend will persist over the forthcoming months, unless a concrete strategy can be implemented.
