Terra Classic (LUNC) experienced a modest decline over the past 24 hours, with its price dropping by 2.37% to trade at $0.00005801. This movement highlights another round of bearish pressure after a brief attempt by bulls to push prices higher.
Market Overview
The token’s market cap currently stands at $319.37 million, reflecting a 2.36% drop in line with its price action. Interestingly, the 24-hour trading volume surged by nearly 77%, reaching $10.94 million, suggesting a rise in trading activity despite the downward move.
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The day’s trading range shows LUNC hitting a low of $0.00005759 and a high of $0.00005986. Although the price attempted to break above the $0.000059 level, bears quickly regained control, pushing it back toward support.
Price Action Analysis
The LUNC chart reveals mixed momentum. The early hours showed some green candlesticks, with prices briefly climbing toward $0.0000595. However, a strong wave of selling soon sent the token lower, dipping closer to its daily bottom. Buyers attempted a mid-session recovery, but the upward push lacked strength, and the token returned to red territory.
24-hour price analysis Source: CoinMarketCap
The overall sentiment leans bearish as LUNC continues to struggle in sustaining gains above the $0.000059 mark. Unless stronger buying pressure emerges, further downside could test the $0.000057 region.
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Despite today’s dip, LUNC remains well above its all-time low of $0.00001675 recorded in May 2022, showing a gain of over 246% since that collapse. However, the token still trades at an extreme distance from its all-time high of $119.18, set in April 2022, before the Terra ecosystem’s collapse. This gulf serves as a stark reminder of the volatility that continues to define the asset.
If trading volumes remain elevated, short-term volatility is expected to persist. A decisive move above $0.00006 could help bulls reclaim momentum, but failure to hold support near $0.000057 may invite further declines. For now, Terra Classic trades within a tight band, with investors watching closely for signs of the next breakout.
