Terra Luna Classic Price Prediction as LUNC Keeps Rising Steadily – Are Whales Accumulating?
The Terra Luna Classic price has dipped by 0.5% in the past 24 hours, with its move to $0.00008900 coming as the cryptocurrency market as a whole rises by the same percentage.
LUNC is now down by 5% in the past week and by 1% in the last 30 days, while the altcoin has also dropped by 38% since the beginning of the year, as the market has suffered regulatory headwinds and investors have grown tired of waiting for the Terra Luna Classic community to make progress in re-pegging USTC.
However, the past few weeks have brought progress in this regard, and up until the SEC sued Coinbase and Binance at the beginning of the month, LUNC had actually made some important gains.
As such, the next few weeks may bring further rallies for the altcoin, with its development community putting recently accepted governance proposals into practice, proposals which could boost its price.
LUNC's chart isn't in a position of strength at the moment, with its indicators suggesting that it may slip a little further before staging a recovery.
For one, its relative strength index (purple) has slid down from 50 this morning, meaning that LUNC's price could slip further on the indicator's way down to 30 or lower.
Likewise, the altcoin's 30-day moving average (yellow) is sinking slowly towards its 200-day (blue), another signal that losses are likelier than gains in the shorter term.
That said, LUNC's support level (green) is slowly inching upwards, so it's likely that any further falls may not be particularly substantial.
With this in mind, it's interesting to note that some LUNC observers are suggesting that whales have been unstaking their holdings of the coin in order to sell when it next pumps, with the claim being that it will rally soon as a result of
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