• Terra Luna Classic (LUNC) price has declined by 3.5% in the past 24 hours, down by 7% in a week and 22% in the last 30 days.
• Community efforts to bootstrap its development have failed to support its price, which has dropped 41% since the beginning of the year.
• The Parity upgrade is set for June 14th, which could provide a boost to LUNC’s price.
Terra Luna Classic Price Declines
The Terra Luna Classic (LUNC) price has dropped by 3.5% in the last 24 hours, falling to $0.00008484 as the cryptocurrency market as a whole fell by 1.5%. In addition, it has dropped by 7% over a week and 22% over the last 30 days, with an overall decrease of 41% since January 2021. This significant decline stands in contrast to major cryptocurrencies such as Bitcoin and Ethereum that have seen gains since January this year.
Parity Upgrade Set for June 14th
Despite LUNC’s ongoing losses, the Terra Luna Classic community are continuing work on making their cryptocurrency and blockchain more useful for developers with plans for an upcoming Parity upgrade set for June 14th 2021. The upgrade could provide a much-needed boost to LUNC’s current position if successful and bring about increased usage of Dapps and utility on their blockchain ultimately leading to higher prices.
Technical Indicators Show Further Losses
Looking at technical indicators such as relative strength index (RSI), moving average (MA) lines and support levels all suggest further losses are likely in the near future unless something changes soon due to current market conditions having an overall negative impact on crypto markets across the board.
Is There Hope For LUNC?
It is difficult to say whether or not there is hope for LUNC given its long-term downward trend despite various efforts from its community but if they can pull off a successful Parity upgrade next month then this could provide some much needed relief after months of losses and lack of confidence from investors that had been previously attracted due to its post-Terra collapse high back in September 2022 of $0.00008485.
Ultimately it is unclear exactly what direction LUNC will take over the coming weeks but one thing we can be sure of is that it needs something big like this upcoming Parity upgrade if it wants any chance at recovery from its recent slump otherwise things don’t look good going forward into Q3 2021 or beyond without some sort of positive momentum change soon..