Terra Luna Classic Price Prediction as $30 Million Trading Volume Comes In – Can LUNC Reach $1 in 2024?
LUNC has gained by 3.5% in the past 24 hours, with the Terra Luna Classic price reaching $0.0001013 on a day of recovery for the crypto market as a whole.
Despite its bounce, LUNC remains down by 21% in a week, 24% in a month and 20% in a year, with these declines standing in stark contrast to most major tokens.
However, today’s uplift has brought with it a slight increase in trading volume, which has climbed to $30 million in a sign that buyers may be coming back.
And with the market looking forward to a potential Bitcoin halving-related rally, the Terra Luna Classic price could see further good news soon.
LUNC’s chart shows a jump that could lead to sustained momentum in the near term, with its indicators now looking more buoyant than in recent days.
Its 30-day average (orange) is beginning to point up again after spending the best of a week falling further below its 200-day average (blue), indicating that the coin has bottomed out and is ready to rise again.
It’s a similar story with LUNC’s relative strength index (purple), which after dropping to nearly 30 in the early hours of the morning, has leapt up to 60.
This suggests increased buying pressure, which the improved trading volume also signals.
However, at only $30 million, this slightly raised volume is arguably very insignificant in comparison to the volumes commanded by major tokens (e.g. BTC at $51 billion volume today, ETH at $21 billion, SOL at $6 billion).
Its modesty underlines how LUNC is still struggling to recover anything like the volumes it enjoyed prior to its infamous May 2022 collapse.
Yet there’s still hope that the Terra Luna Classic price could recover in a significant way.
In the near term, it may find support in the wider market, which could become more
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