Terra Classic (LUNC ($0.00)) faced a rough month, dropping 13.50% in value. The price fell to $0.00006173, significantly lower than its recent highs. Market sentiment remains bearish as trading volume plunged 16.88% in the last 24 hours, standing at $23.15 million. With a market cap of $337.41 million, the token is struggling to regain investor confidence.
LUNC’s Monthly Performance – Peaks and Lows
At the start of February, LUNC attempted a recovery, reaching $0.0000715 mid-month. However, bearish pressure took over, leading to a consistent downtrend. By early March, the price dipped to a monthly low of $0.00006076. Compared to its all-time high of $119.18 in April 2022, LUNC has suffered a near-total collapse.
One-month price chart. Source: CoinMarketCap
Despite a few brief surges, sellers dominated the market. The decline aligns with a shrinking trading volume, reflecting weak investor demand. The market cap dropped 10.41%, signaling a reduced confidence in the token’s future.
What’s Dragging LUNC Down?
Several factors contributed to LUNC’s decline. First, the overall crypto market has seen volatility, with Bitcoin and altcoins experiencing corrections. Terra Classic’s massive circulating supply of 5.46 trillion LUNC makes price surges difficult without substantial demand.
Related article: 24 Hours Price Analysis: LUNC Price Faces a Crossroad – Can Bulls Maintain Control?
Another issue is Terra Classic’s uncertain future. While the community continues its revival efforts, LUNC struggles to attract new investors. Additionally, without a clear roadmap, traders remain cautious.
Will LUNC Recover or Keep Dropping?
The short-term outlook for LUNC remains uncertain. If buyers step in and push the price above $0.00007041, a recovery could be possible. However, a break below $0.00006076 may trigger further losses.
Related article: Terra Classic (LUNC) on the Rise: Is a Bigger Rally on the Horizon?
Investors are watching trading volumes closely. A surge in activity could signal renewed interest, but the current decline raises concerns. Until Terra Classic finds a strong catalyst, the price may continue struggling.
Terra Classic remains a risky asset with high volatility. The recent price drop reflects broader market uncertainty. While some traders see this as a buying opportunity, others fear more downside. Until LUNC shows strong fundamentals or adoption growth, its recovery remains questionable.
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