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Terra Classic Price Prediction: What Is a Good LUNC Buy Zone?

The Terra Classic Price (LUNC) and the market capitalization saw a significant drop in August 2023 in line with the wider crypto market.

Published by

Anvesh Reddy

Updated 16 Jul, 2024 | 12:14:38 PM UTC

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

Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by

Anvesh Reddy

Updated 16 Jul, 2024 | 12:14:38 PM

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