- The Terra Classic token lost 99.99% of its value due to hyperinflation.
- In the last 30 days, the Terra Classic crypto has lost its value by 28.9%.
LUNC is the token of Terra Classic, a PoS blockchain that survived the UST depegging crisis. It is used for staking, governance, and collateral. It was created by the Terra community, led by Do Kwon and Daniel Shin. LUNC’s current and future status are uncertain and require more research.
Terra Classic has a circulating supply of 5.784 Trillion LUNC while the total supply is 6.811 Trillion LUNC. Furthermore, the max supply of the crypto is infinite and the fully diluted market cap of the crypto is $663.388 Million.
The market cap of the LUNC token has declined by 3.1% in the last 24 hours while its trading volume has witnessed a huge decline of 20.1%. The market cap of Terra Classic is $563.124 Million.
The current market cap ranking of the LUNC crypto is 104th as per CoinMarketCap. Moreover, the supply inflation of the crypto is -3.48% and the market cap dominance of the crypto is 0.03%. Despite this, the volatility of the crypto is very high at 11.64%.
Terra Classic Derivatives Analysis
The long/short ratio of the crypto is 0.8918 and the derivatives trading volume has declined by 9.9% and the open interest has also declined by 10.5%.
Furthermore, the long liquidation of the crypto is $60.88K against the short liquidation of $14.58K. This indicates the dominance of sellers over the last 24 hours.
LUNC Crypto Technical Analysis
The LUNC crypto price formed an inverted hammer pattern on the weekly chart and since then, the price has been consistently declining, resulting in a bearish price action.
This behavior of the price represents the sellers’ dominance and also bearish sentiment for the LUNC token.
LUNC/USD Chart by TradingView
The moving averages on the daily chart of the LUNC crypto indicate a possibility of reversal to the downside as the price has declined below the 50-day and 200-day EMAs.
The MACD is indicating volatility to bearishness in the price as the MACD and the signal lines have overlapped each other.
The RSI is indicating bearishness in the price as it is below the 50-level and has traveled from the overbought zones. Additionally, the 14-day SMA is at the same level as the RSI.
Summary
LUNC has a low market cap, high volatility, and bearish indicators. It faces strong selling pressure and a downward trend. The current factors of the crypto and the technical indicators indicate the possibility of further declines in the price.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.