Terra Luna Classic Price Prediction as Daily Trading Volume Falls to $12 Million – Is It All Over for LUNC?

cryptonews.com:

The Terra Luna Classic price has risen by a modest 0.5% in the past 24 hours, with its little jump to $0.00006095 coming as the wider cryptocurrency market recovers by 1% today.

Despite this slight improvement, LUNC remains down by 1% in a week and by 22% in the last 30 days, while the altcoin has also declined by 58% since the beginning of the year.

And with LUNC's trading volume sliding all the way down to $12 million today, it doesn't look like enough interest and buying pressure is going to emerge to lift the altcoin out of its long-term slump, despite the best efforts of the Terra Luna Classic community.

Under normal circumstances, LUNC's weak indicators would be a sign that the coin is due a very big rebound in the not-too distant future, given just how oversold it is and has been for several months.

Its relative strength index (purple) has remained in and around the 30 level since the middle of August and doesn't look like it's going to recover anytime soon, signalling that momentum remains downwards.

Likewise, LUNC's 30-day moving average (yellow) continues to slide even further below its 200-day average (blue), which is again a sign that the coin is trapped in a prolonged downturn.

This is also indicated by the coin's support level (green), which has continued to drop below one apparent support after another in recent weeks.

Again, such technical indicators would normally suggest that an asset should make a recovery very soon, assuming that the asset in question has strong fundamentals and has declined more as a result of external pressures (e.g. market-wide bearishness and poor macroeconomic indicators).

However, in the very particular case of LUNC, its sustained losses seem to be the result of what may be a terminal –