Terra Luna Classic Price Prediction as Binance Announces Support for New Network Upgrade – Can LUNC Reach $1?
Terra Luna Classic (LUNC) is pulling lower on Friday, despite the world’s largest cryptocurrency exchange Binance announcing that it plans to support a new network upgrade.
The LUNC price was last around $0.000077, down around 20% from the highs multi-month highs it hit earlier in the month at $0.000097.
The cryptocurrency is still up a solid 21% for the month, however, largely as a result of aggressive technical buying that took place when LUNC broke to the north of a downtrend that had been in play going back more than one year.
If LUNC can find support in the key $0.000077 area, then it stands a decent chance of being able to push back to multi-month highs and perhaps above $0.00010.
Some bull might be eyeing support-turned-resistance around $0.000115.
However, while LUNC has done well in November, Poor fundamentals suggest that LUNC is unlikely to be able to keep pace with the broader cryptocurrency market’s rally.
Price predictions are unlikely to shift substantially bullish any time soon.
Despite the best efforts of developers still invested in promoting Terra Luna Classic’s success – the L1 Task Force recently announced their plans to take the blockchain into “maintenance mode” for Q4 to handle blockchain and dApp issues – LUNC’s outlook is dire.
Hardly anyone in the crypto space trusts or takes any project with “Terra Luna” in its name seriously in wake of the 2022 collapse that cost investors billions.
As per DeFi Llama, Terra Luna Classic’s trade value locked (TVL), the dollar value of crypto locked in smart contracts on the blockchain, was last a paltry $1.8 million – virtually nothing.
At its peak, prior to the spectacular crash in May 2022, the blockchain was home to a TVL of close to $35 billion.
The blockchain’s
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