LUNC, the native token of the Terra blockchain that suffered a catastrophic collapse in May 2021 after algorithmic stablecoin UST lost its 1:1 peg to the US dollar, is falling on Wednesday, along with bear flows that they feel in the cryptocurrency space. The cryptocurrency was last around 1,25% lower on the day in the €0,0001630 area and was trading south of its 21-day moving average (DMA) at €0,0001670.
Price Prediction - What's Next for LUNC?
The latest drop in LUNC marks a bearish break of an uptrend that had been supporting price action since the November lows after FTX crashed in the €0.0001350 area. Therefore, price forecasts have become more pessimistic.