Luna Terra Classic news, analysis, and price predictions
Have you ever thought about what has happened to the Luna Terra Classic Project? Why is its community so obsessed with clearing the image of Do Kwon lately? And, is the future of this crypto project bright or not? These questions could only be answered by keeping informed of the latest Luna Terra Classic news.
First of all, the cryptocurrency market has had a very difficult year so far, especially in the last couple of months. Luna Terra classic has been rebuilding so far, even though the goal among its community isn’t necessarily rebuilding or burning Terra Luna classic.
The main focus of the community is to clear up the name of Do Kwon, so he returns to the Luna Terra Classic project. Even though he’s been working on the Terra Luna Classic 2.0, this article will mainly focus on and discuss the general news about the Luna Terra Classic.
But before we get into the deeper analysis and news about the Luna Terra Classic project and get all the latest Terra Luna Classic news, let’s look at the Terra Luna Classic Price and prediction at the moment.
The Terra Luna Classic Price Prediction
Terra Luna Classic price is still lulled, while the bullish momentum is still surging. It could activate a 20% upswing anytime soon. It’s obvious that the Terra Luna Classic price is trying to break free from its successive consolidation, expecting it to happen in a fiery move to the topside. This outlook is also supported by the momentum indicator, attributing the main question of “when.”
The price of Luna Terra Classic has seen to generate a string of lower highs. Nonetheless, according to the candlestick bodies that were newly formed, we can see the seller’s dominance according to the lower lows between the 8th and 13th of November. However, the RSI has generated higher lows for the same periods, showing that the momentum is rising.
A bullish divergence resulted in an upswing in Luna’s price.
A bullish divergence results in an upswing of the Luna Classic price. For that particular reason, we can expect a move that will represent a 22% upswing for the Luna Classic price, which is one of the top Luna Terra Classic news so far! Luna Classic price extension is possible to $0.00277. It might result in a total profit of 50%.
So, even though the Terra Luna Classic price prediction is positive, we can expect the $0.000161 support level to create a lower low, nullifying the bullish thesis. What is crucial to keep in mind is that all this can result in a crash of the overall 12$, which will enable Luna Classic holders to extend from 0.000115 to $0.000140.
At the time of writing this, the Terra Luna Classic price is $0.014028, with one day return of -2.31% and a seven-day return of 27.36%.
The latest Luna Terra Classic News
Regarding the latest Luna Terra Classic news, its coins have seen plummeting, wiping out most of the gains that were recently made. Both LUNC and Terra 2.0 showed a +3% decline, being bearish. During the last couple of days, Terra Luna and Luna Classic (LUNC) have witnessed a great recovery from the bear run of the last couple of weeks.
Even with the utility’s absence, they could not retain their growth. The reason for bears who took over the market recently was a Terra Luna Classic news of the week!
It had the right momentum when its huge rivals CENX and BRISE marked some impressive successes, making Bitgert one of the most successful coins that week according to charts and Luna Terra Classic news by experts.
Numerous reasons for Luna Classic and Terra coin’s decline
There were numerous reasons why Luna Classic and Terra Luna’s coins led to a decline in recent days. One of the main factors for the coin failing was the FTX fall crashing, while Do Kwon and Terra were trending too. In addition to that, the coin plummeted.
Nonetheless, the recent increase in coins’ value was brief. One of the main reasons for it was the absence of utility. At the time of writing, Luna Classic and Terra market values had declined by +4%, with the possibility of hitting lower lows before EOD.
So what is the major Terra Luna Classic news so far regarding Do Kwon’s case?
Do Kwon’s Statement regarding the Luna Terra Classic Case
Among the biggest, Terra Luna Classic news is Do Kwon’s statement. According to him, there’ve been multiple recent failures regarding cryptocurrencies, and it’s crucial to know how to differentiate Terra Luna’s case, where strong, decentralized stablecoin managed to fail to maintain peg parity. Its creators, thus, have spent proprietary Capital to defend it.
Also, the failure of custodial, decentralized platforms in which users misused customer funds of other individuals for their financial profits. Does Kwon hope that his recent report will show the entire crypto community their organization’s focus on transparency and a wider crypto ecosystem?
He also stated that they’re more committed than ever to learning from their failure and developing a more transparent, decentralized, and resilient system. With Do Kwon’s statement, it seems that he didn’t abandon his project and that he’s only trying to wash his name in front of the entire community, according to the latest Terra Luna Classic news.
Luna Terra Classic has been plummeting.
Regarding the further Luna Terra Classic news, the situation is still tenacious, with no positive looks for the near future. Terra 2.0, known by the simple “LUNA” term, got rid of 83% of the AHT’s value, which wasn’t the case with CENX and BRISE. On the other hand, Luna Classic has been declining in the past couple of months.
According to recent data, the Luna Terra Classic showed 40% during the past two months. Even though the Luna Classic has managed to remain at 41st position on MC and active, we’re witnessing its plummeting.
However, for those wondering if Luna Terra Classic is a good investment idea this year, according to experts, LUNA can pass the average price level of 130 USD in 2022. If we consider the minimum value projected of the token price to be at 131.15 USD until the beginning of the next year, it’s clear that it’s among the most rewarding coins of 2022.
For those still doubting, and searching for other valuable Luna Terra Classic news, here’s what the resume of its official audit looks like.
The resume of the Luna Terra Classic’s recent audit
It’s a good representation of the Bitcoin price balance, when BTC was 80,000, ending at 313 dollars. Regarding Binance and BNB USDT, they stayed the same, while they’ve spent all $26 million USDC, spending all $23 million, ending up with a huge amount of UST along with Luna Terra than they’ve previously owned.
They started with 697 000 USDT, ended with 1.8 billion, started with 1.6 million Luna, and ended with 222 million Luna. This detailed audit shows the transactions that were taking place in that period. At that time, with this team, Do Kwon tried to repeg the Luna Terra Classic along with the UST.
However, they’ve failed in that mission. Instead of rebuilding the Luna Terra Classic, the team transitioned to another project, the Terra Luna 2.0, leaving the original Luna Terra Classic dead.
Luna Terra Classic’s development team is eager for money.
According to experienced crypto experts, this scenario was a strange surprise, especially considering the Terra Luna Classic community shifted from burning and building to money and Do Kwon. Obviously, the developers behind the Luna Terra Classic project are after money, so if they fail to get the 4 million dollar wallet, they’re done trying for this project. The Luna Terra Classic’s future won’t exist.
In general, the Terra Luna Classic community is extremely obsessed with Do Kwon’s name and his wanting to improve its image in the public, even though he’s not building the Luna Terra Classic project. Also, one expert stated that all the community individuals care about is clearing the name of Do Kwon instead of focusing on growth.
So, the main question regarding this matter is whether it’s just another attempt by people close to Do Kwon to rebuild his name. Hence, he’s able to come back to the Luna Terra Classic project and its community, or is there any other reason?
According to the latest Luna Terra Classic news, for the next three years, the price prediction predicts that Terra Classic (LUNC) might be worth approximately $0.000858. However, the long-term sentiment is still bullish, with the market cap remaining at $1,117,017,287.
So, all crypto enthusiasts eager to invest in this particular cryptocurrency could do so, especially if they’re constantly reading the Luna Terra Classic news! However, keep in mind that the cryptocurrency market is a highly volatile market, prone to change from one day to another. For that reason, ensure to invest the amount of money you’re able to lose without any consequences and keep learning and pursuing your crypto goals in the long run! Good luck!