Despite Terra Classic (LUNC), the original blockchain of the distressed Terra (LUNA) ecosystem, recording poorer results over the past weeks compared to the rest of the assets in the cryptocurrency market, the crypto community is still largely bullish on its token’s near future.
As it happens, the results of 924 votes cast by the members of the crypto tracking platform CoinMarketCap by press time have set the average price of Terra Classic at $0.000195 by March 31, which would demonstrate an increase of 43.05% or +$0.00005732 to its price at the time of publication, according to the data retrieved on March 15.
LUNC technical analysis
That said, the technical analysis (TA) for Terra Classic on the one-day gauges at the finance tracking platform TradingView is generally bearish. Specifically, its summary aligns with the ‘sell’ sentiment at 11, which is the result of oscillators in the ‘neutral’ area at 9, and moving averages (MA) indicating a ‘strong sell’ at 10.
As things stand, LUNC is currently changing hands at the price of $0.0001332, which represents a gain of 1.88% across the previous 24 hours but still recording a decline of 6.01% over the previous week and 18.93% in the past 30 days, according to the latest charts retrieved by Finbold on March 15.
Whether the community’s predictions about LUNC’s future can become a reality will depend on various factors surrounding its ecosystem, such as its token burn rate and the developments regarding the fugitive founder of Terraform Labs Do Kwon, as well as the outside influences, like the sentiment in the wider crypto and macroeconomic scene.
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