Can the Bullish Trend of Terra (LUNC) Developments be Sustained in the Long Run?
Over the past month, the price of Terra Luna Classic's native cryptocurrency, LUNC, has witnessed a significant decline of 28%, largely due to a descending parallel channel that has formed amidst gloomy market sentiments. As a result, LUNC has slipped down to the 134th position on the global crypto charts by market capitalization.
The Dark Shade of Terra Cast on LUNC
Adding to the woes, LUNC's price has dropped by 10% in the last seven days, while Bitcoin, the leading digital asset, recorded a 3% gain. However, crypto analysts see a ray of hope in Terra Classic's long-term bullish pennant, which indicates a potential price reversal for LUNC after it lost all of its 300% gains from December.
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