Is Terra Luna Classic Going to Zero? LUNC Price Falls 10% as Viral Mining Coin Surpasses $4.9 Million Milestone
The LUNC price has dropped by 12% in the past 24 hours, with this steep fall coming on a day when the wider market has actually gained by a healthy 4.5%.
LUNC’s dive comes after several days of strong rising, with its current price of $0.00020828 representing an enviable 73% gain in a week and a 215% rise in the last 30 days.
However, there’s a fear that such overzealous rallying puts LUNC in a position where it may correct downwards, leaving traders having to look elsewhere for profitable options in the shorter term.
Yet there’s currently no shortage of promising new coins, with stake-to-mine platform Bitcoin Minetrix looking set to rally on the back of a presale that has now raised almost $5 million.
LUNC has had a massive surge over the past week or so, but it now seems that it may have begun a correction of sorts.
From just over 90 a few days ago, the coin’s relative strength index (purple) has dropped to 70, suggesting that further price declines could be on their way.
On the other hand, LUNC’s 30-day average (yellow) continues to rise strongly above its 200-day (blue), indicating that today’s decline may be fairly short-lived.
Possibly the most bullish sign of all is that LUNC’s trading volume remains close to $600 million, up from as low as $30 million barely two weeks ago.
Such an increase marks a significant shift in LUNC’s market, with the coin attracting a greater number of traders, including whales.
Stay up $LUNC whales are coming. pic.twitter.com/IxlO4kXLyq
— LunaClassic HQ
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