Lunc Price Prediction: Today’s Lunc Price, 31st March 2023

The cryptocurrency, which runs the now-largely-defunct original Terra blockchain that suffered catastrophe back in May 2021, was trading at a price of about $0.00012 at the time of writing, just slightly higher than the $0.0001170 lows it reached earlier this month.

In spite of the fact that other significant cryptocurrencies rallied in March, LUNC hasn’t done well.

Following a decline to the south of a long-term pennant structure at the beginning of the month, the cryptocurrency is expected to have lost about 26% of its worth.

One explanation for why LUNC has done so poorly is technical selling.

Another is a flight to quality among cryptocurrency users despite worries about the stability of the wider economy.

Since Bitcoin was at the forefront of the rally in March, it is generally believed that it is the biggest, safest, and most decentralized cryptocurrency network currently standing the best chance of achieving its objective of becoming a widely used currency/store of value.

Bitcoin is still up about 17.5% on the month despite its 7.5% decline from previous monthly highs to the low-$27,000 range.

Due to LUNC’s dreadful past—the cryptocurrency was hyperinflated from its peak value of triple digits in 2022 to its current value of almost nothing after Terra UST depegged from the US dollar last May—traders have probably been abandoning the token in favor of initiatives with a more stable track record (like Bitcoin) and a more promising future.

Following the 2022 hyperinflation event, nearly the entire development community of the initial Terra blockchain left, and most analysts believe the future of the blockchain ecosystem is dim.

TODAY’S LUNC PRICE

Luna Classic’s price today is $0.0001228 USD

Terra Luna Classic Price Prediction

Unfortunately, recent price activity suggests that Luna Classic may be ready for a new push to the downside, which is bad news for LUNC bulls.

A breach to the south of the bearish triangle that the cryptocurrency appears to be forming could allow for a push to levels below $0.00010.

This bearish thesis is strengthened by the fact that LUNC is below all of its main moving averages and has recently encountered resistance at its 21DMA.

Even though he no longer had any connections to the project, the recent arrest of Terra founder Do Kwon while he was on the run in Eastern Europe might be contributing to the negative mood.

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