Terra Classic (LUNC) Is Bearish, Is the Trend Reversing Back?

Apollo DAO Announced Shutting of Vaults on Terra Classic
  • At the time of writing, the price of LUNC was $0.0003, down 17% in the previous 24 hours.
  • Today, at 9:00 a.m., it is trading at $0.0003559, quite bullish, with one target of 0.001 before the LUNC burn.

Nowadays Terra Classic (LUNC) is trending. As people have thought that the fall of coins will disappear, it has been booming in the past few days. And today at 9:00 am it is trading at $0.0003559 and it is extremely bullish and it is expected to hit 0.001 before the LUNC burn.

LUNA, the new token from the Terra blockchain that had dramatically fallen in May, has made its way back down to Earth, plunging as much as 33% on Monday after skyrocketing last week. It traded had hit an all-time high of $7.60 on Friday.

The second edition of LUNA built after Terra’s implosion in May led to a $60 billion loss in value. Officials are looking into the linked Terraform Labs and co-founder Do Kwon for alleged fraud.

LUNC Latest Update

The original Terra blockchain has launched as Terra Classic, and its native token – the previous LUNA, now Luna classic (LUNC) – has also plummeted in price after a week-long spike. According to CoinMarketCap, the price of Terra Classic was $0.0003 at the time of writing, down 17% in the previous 24 hours.

LUNC Price Chart (Source: CMC)

Last week, Howard Greenberg, a cryptocurrency trainer at Prosper Trading Academy, stated that the price increase for Terra Classic made it appear to be “a meme coin at this moment.”

As the Terra Classic faces both bearish and bullish days, it is still trending and trading well in the crypto market.

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A passionate writer who  is keenly exploring crypto and Blockchain loves to know about new things and exploring what is happening in world.