Terra Classic Price Prediction: What Is a Good LUNC Buy Zone?
In the context of the crypto asset selloff in August 2023, the Terra Classic Price (LUNC) saw a significant drop. However, the developers have introduced a new proposal to implement dynamic minimum commissions for validators to protect the Terra Luna Classic network against potential vulnerabilities.
Also Read: Circle Set To Reveal Update On USDC Ecosystem Boost; What Could It Be?
Weak Support For Terra Classic?
Over the last 30 days, the LUNC market cap reduced by as much as $100 million to $360 million currently. This could likely mean the interest in buying the coin dwindled as may lead to further price drop. According to Blastoise, a LUNC supporter, the support level for the token with the USDT pairing is at around $0.000055 while the resistance level is at around $0.000068.
“The current price is at the support level, which is a good sign. If the price can hold above the support level, it could signal a reversal to the upside.”
On the flip side, a price break below the support level could signal a continuation of the downtrend. Will the LUNC price drop further below the $0.000055 level? In the led up to the US Federal Reserve‘s FOMC meeting between September 19-20, 2023, the crypto market could likely witness volatility, which could eventually impact Terra Classic.
Also Read: XRP Purchases In The US On The Rise: On-Chain Data
- ‘Great Progress’: Cardano Founder Shares Update After CLARITY Act Roundtable
- Jerome Powell Signals No Rush to Cut Rates, Bitcoin Falls
- FOMC Meeting: Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps
- “Beyond a Centralized Exchange” Bitget CEO Unpacks Universal Exchange Vision on 7-Year Anniversary
- Breaking: CME Group to Launch Solana and XRP Futures Options as Institutional Demand Grows
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
