Terra Luna Classic (LUNC) Experienced An Intense Rally This Week. Today It Collapses Again

✍️ 15 December, 2023 - 16:14 👤 Editor: Jakub Motyka

• Despite its progress in new developments in the crypto community, Terra Luna Classic's LUNC token closes the week with falls.
• Its price has fallen almost 14% in the last week.
• The latest news about cryptos on our Telegram channel.

The Terra Luna Classic (LUNC) crypto recently experienced a wild price ride, surging over 122.94% in the past month. But now it is facing downward pressure, leading to a nearly 14% drop during the last week.

The price of the token LUNC is now at $0.00017310, which represents a drop of more than 4% during the last 24 hours. At least for now, the graph does not seem to show signs that the trend is going to reverse.

Why The Price Of Terra Luna Classic (LUNC) Is Falling After Its Spectacular Recovery

Despite positive internal news for LUNC, such as the advancements by Enterprise Protocol in creating interchain treasuries on the Juno Network, the market remains overshadowed by a bearish trend. A total of $222,000 in long positions have been liquidated in the last 24 hours, even though the open interest remains positive.

Currently, LUNC's price stands above $0.00017310, at a crucial juncture that could define its future price movements. Investors and traders should exercise caution in the coming days as the market is expected to slow down and assets return to a more stable price point.

This scenario reflects the inherent volatility in the cryptocurrency market, where internal developments and market dynamics can significantly influence the price of tokens like LUNC.

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