Terra Classic (LUNC) saw a measured yet encouraging comeback this week, ending with a 4.07% increase over the past 7 days. Starting near $0.00005626, the token dipped sharply on April 9, touching a local low just under $0.000052. However, buyers quickly stepped in, triggering a steady rally that pushed LUNC to its current level of $0.00005853.
This rebound comes despite a significant 29.72% drop in daily trading volume, now at just $9.16 million. The token’s market cap sits at $318.38 million, slightly down by 1.17%, showing mixed signals of cautious optimism.
24-hour price chart. Source: CoinMarketCap
Supply, Sentiment, and Momentum
LUNC continues to wrestle with supply overhang, with 5.43 trillion tokens circulating out of a massive 6.49 trillion total supply. Yet, this hasn’t stopped retail traders from jumping in, especially as the price hovered around historical support levels.
Related article:Â LUNC 24 Hours Price Analysis: Terra Classic Consolidates, Surges by 4.75% Ahead of Major Market Uncertainty
Although the coin is far removed from its all-time high of $119.18—a staggering 100% fall since April 2022—it has managed to stay afloat well above its all-time low of $0.00001675, recorded in May 2022. That marks a 249.42% gain from the lowest low, a sign that LUNC still holds speculative appeal.
What’s Fueling the Green Candle?
Momentum began building around April 10, as LUNC broke past the stagnation zone. Whale interest and community-driven burn initiatives may have contributed to the shift, but the relatively low volume signals that institutional support remains absent.
Related article: 24 Hours Price Analysis: LUNC Price Faces a Crossroad – Can Bulls Maintain Control?
Still, with a Vol/Mkt Cap ratio of 2.88%, some analysts believe the price could consolidate before its next decisive move. If volume returns, LUNC could break above the $0.000060 resistance. While the broader market wavers, Terra Classic shows it’s not out of the game yet. Despite structural challenges, it’s attracting attention once again.
Investors should monitor volume closely, as a pickup in buying pressure could drive the next rally—or reveal a false breakout.
