Terra Classic (LUNC) has faced another bearish trading session, shedding 3.66% in the past 24 hours. The token is currently priced at $0.00005946, down from a daily high of $0.00006189. This downward pressure has kept LUNC trading near its intraday low of $0.00005915, signaling weak bullish momentum.

Market Cap and Volume Decline

LUNC’s market capitalization now stands at $333.27 million, marking a 3.86% drop over the same period. Trading activity has weakened significantly, with $8.67 million in 24-hour volume, representing a 28.16% decline. The volume-to-market-cap ratio sits at 2.6%, suggesting limited trading enthusiasm as sellers dominate.

Related article: 24-Hour Price Analysis of Terra Classic (LUNC): Price Surge to 0.00006227 and Potential Breakout Ahead

The total supply of Terra Classic remains 6.49 trillion LUNC, with 5.6 trillion tokens in circulation. Unlike capped cryptocurrencies, LUNC’s supply is uncapped, leaving it vulnerable to inflationary pressures if burning initiatives slow down.

Historical Context and Price Range

Despite today’s pullback, Terra Classic has rallied 254.51% from its all-time low of $0.00001675 recorded on May 13, 2022. However, it remains dramatically below its April 2022 all-time high of $119.18, underscoring its long-term collapse post-Terra ecosystem failure.

_{24-hour price chart Source: CoinMarketCap}

The 24-hour price chart shows multiple failed attempts to sustain above $0.000061, leading to sharp retracements. Bears managed to push LUNC under $0.000060, establishing a psychological barrier. The lack of buying volume indicates that immediate recovery attempts may face resistance.

Related article: Terra Classic (LUNC) Holds $0.000061 as Momentum Wavers – What’s Next in the Next 24 Hours?

Terra Classic is currently struggling to regain bullish traction. With trading volume shrinking and price momentum weakening, LUNC risks sliding further if it fails to hold the $0.000059 support level. Traders are watching closely for potential whale accumulation or increased burn activity that could trigger a rebound.