<img width="1200" height="578" src="https://coingape.com/wp-content/uploads/2024/01/YIvoy0lt-e1704469819526.png" class="attachment-full size-full wp-post-image" alt="LUNC price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Terra Classic Price Prediction: Over a month, the <a href="https://coingape.com/price/terra-luna-classic/" rel="noopener noreferrer nofollow">Terra Classic price</a> has witnessed a steep correction, projecting a V-top reversal from $0.00028. The retracement has plunged the prices by 55% to trade at $0.000128 currently. With the current uncertainty in the market regarding the approval of spot Bitcoin ETFs, the sellers may prolong this downfall and tumble the LUNC value. Is it safe to hold?
Also Read: <a href="https://coingape.com/lunc-news-terra-luna-classic-proposal-to-burn-8-million-ustc-officially-rejected/" rel="noopener noreferrer nofollow">LUNC News: Terra Luna Classic Community Deters 8 Million USTC Burn Proposal</a>
<h2 id="b-will-lunc-price-lose-0-0001-b">Will LUNC Price Lose $0.0001?</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">The falling channel pattern governs the current correction trend/</li>
 <li style="font-weight: 400;" aria-level="1">A rising trendline prevents the LUNC price from major correction.</li>
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the LUNC coin is $193.5 Million, indicating a 174% gain.</li>
</ul>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/y/YIvoy0lt.png" alt="Terra Classic Price Prediction" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Terra Classic Price Prediction| TradingView Chart
 </figcaption>
</figure>
Amid the recent downturn in the <a href="https://coingape.com/crypto-market-selloff-btc-eth-sol-xrp-ada-price-free-fall/" rel="noopener noreferrer nofollow">cryptocurrency market</a>, Terra Classic (LUNC) has seen a significant correction, dropping to $0.0001. This decline retests the 78.6% Fibonacci retracement level, signaling a weakening bullish momentum as the gains from the rally in November-December 2023 have been largely eroded by selling pressure.
The technical analysis of LUNC reveals two critical factors influencing its price trajectory: an ascending trendline (colored blue) and a falling channel pattern. Over the last few months, LUNC has consistently found dynamic support along this trendline.&nbsp;
<blockquote>
 A break below this level could exacerbate selling pressure, potentially leading to a further drop. The anticipated correction could bring the price down to a support level of $0.000069, and possibly even a lower bottom at $0.000055.
</blockquote>
Conversely, the falling channel pattern currently guiding the correction suggests that a positive shift in broader market sentiment—such as the potential approval of <a href="https://coingape.com/analyst-predicts10-btc-price-jump-post-spot-bitcoin-etf-approval/" rel="noopener noreferrer nofollow">spot Bitcoin ETFs</a> by the US SEC—could substantially boost LUNC.&nbsp;
A breakout above the overhead trendline would indicate the end of the correction phase, potentially igniting buyer interest and driving the price to higher levels, with targets at $0.000139, $0.00016, and possibly higher
<h2 id="b-lunc-vs-btc-performance-b">LUNC vs BTC Performance</h2>
<figure id="attachment_172467" aria-describedby="caption-attachment-172467" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-172467 size-full" src="https://coingape.com/wp-content/uploads/2024/01/image_2024-01-05_20-48-55-e1704469639532.png" alt="LUNC price" width="1200" height="675">
 <figcaption id="caption-attachment-172467" class="wp-caption-text">
 Source: Coingape| Terra Classic Vs Bitcoin Price
 </figcaption>
</figure>
The last three months’ price behavior indicates the Terra Classic (LUNC) is underperforming against Bitcoin (BTC), highlighting a distinct divergence from the broader crypto market trends. While the Bitcoin price continues to show growth with minor dips, the coin price has corrected more than 50% from its previous rally, indicating that buyers are struggling to sustain high ground.
<ul>
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The 200-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMA</a> walking along with the rising trendline offers suitable pullback support to buyers.</li>
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: The <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/" rel="noopener noreferrer nofollow">MACD</a> and the signal line below the midline in a bearish crossover state reflect the sellers are currently dominating this asset.</li>
</ul>
<h3 id="related-articles">Related Articles</h3>
<ul>
 <li><a href="https://coingape.com/binance-burns-5-57-billion-terra-luna-classic-lunc-and-ustc-prices-rise-over-7/" rel="noopener noreferrer nofollow">Binance Burns 5.57 Billion Terra Luna Classic, LUNC And USTC Prices Rise Over 7%</a></li>
 <li><a href="https://coingape.com/bitcoin-etf-approval-in-final-stage-before-secs-19b-4-submissions-report/" rel="noopener noreferrer nofollow">Bitcoin ETF Approval in Final Stage Before SEC’s 19b-4 Submissions: Report</a></li>
 <li><a href="https://coingape.com/bitcoin-etf-approval-how-likely-is-us-sec-to-give-nod-on-january-5/" rel="noopener noreferrer nofollow">Bitcoin ETF: How Likely Is US SEC To Give Early Approval?</a></li>
</ul>
The post <a href="https://coingape.com/markets/terra-classic-price-prediction-will-uncertainty-push-lunc-0-0001/" rel="noopener noreferrer nofollow">Terra Classic Price Prediction: Will Market Uncertainty Push $LUNC Below $0.0001?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Terra Classic Price Prediction: Will Market Uncertainty Push $LUNC Below $0.0001?

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