Terra Luna Classic Price Prediction as LUNC Sees $100,000,000 Trading Volume Come In
Terra Luna Classic price prediction is bearish; however, buyers still have hope for a bullish reversal above $0.000169, a support level extended by an upward trendline. The cryptocurrency market has recently been harsh to investors, with most cryptocurrencies unable to produce gains.
Terra Classic (LUNC) experienced a slight price rise, bucking the trend of other large market-cap cryptocurrencies.
Based on statistics from CoinMarketCap, the price of LUNC increased by less than 0.50% during the Asian session.
As of this writing, it was trading at $0.000175, giving it a market cap of $1 billion. Despite the market's ongoing fear, uncertainty, and doubt (FUD), trading volume has soared and held near $100,000,000.
For his part in the downfall of the Terra (LUNA) ecosystem, Shin Hyun-Seong, co-founder of Terraform Labs, has had his assets frozen by a South Korean court.
According to a November 17 report from a South Korean local news outlet, the court has allowed the forfeiture of 140 billion won ($104 million) in earnings Hyun-seong gained from allegedly selling pre-release LUNA at a high price without telling ordinary investors.
This order by the court is an important pre-trial measure meant to prevent the accused from spending the money before being turned over to authorities for trial. Hyun-seong is the subject of an ongoing investigation by the prosecution into allegations that he illegally profited from the introduction of assets related to the Terra environment.
Simultaneously, the accused is said to have shared sensitive financial information about Chai Corporation's clients with Terraform Labs.
LUNC is currently facing immediate resistance of around $0.0002200, and a bullish break above this level could push the price
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