3 Reasons Terra Luna Classic Price is Heading to $0 and 3 Better Altcoins to Invest In
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
The Terra Luna Class price has dropped b 0.8% in the past 24 hours, to $0.00023023. This represents a 13% fall in a week and a 20% decline in a fortnight, with LUNC continuing to witness a slide following a rally last month driven by new token burns.
Now, the excitement over its tax burn and Binance's trading fee burn appears to have subsided, with LUNC 'only' 22,979% up from its all-time low of $0.000000999967, set back in May when Terra spectacularly collapsed. This might seem like a big gain, but bear in mind that in early September it was 57,000% up from this all-time low, indicating that it has been on a decline ever since.
However, there are other altcoins that promise above-average gains to traders, and all without having suffered catastrophic failures on the scale of Terra. These include Dash 2 Trade, the Impact Project and Calvaria, all of which are currently going through their presales right now, thereby promising big gains to early investors.
It's arguable that LUNC has already seen its post-crash peak, and that now all it has to look forward to is another (albeit longer term) decline.
Its relative strength index (purple) has been subdued for most of October, during which it has been mostly under 50. This signals overselling and a lack of momentum, a view supported by LUNC's 30-day moving average (red), which continues to sink below its 200-day average (blue).
Basically, LUNC's indicators continue to show an altcoin in decline, with little to suggest an incoming recovery or rebound.
Equally discouraging is the fact that, despite Binance continuing its trading fee burns,
Read more on cryptonews.com
