Terra Luna Classic Price Prediction as $60 Million Trading Volume Comes In – Can LUNC Reach $1 in 2023?

cryptonews.com:

The Terra Luna Classic price has dropped by 1.5% in the past 24 hours, sinking to $0.00017113 as the market as a whole dips by around 0.5%. Its fall comes as its 24-hour trading volume reads at just over $60 million, with the altcoin also down by 1.5% in a week but up by 1.5% in the last 14 days.

However, a trading volume of $60 million does actually represent a decline of over 80% since January 14, when 24-hour volume passed $380 million and when LUNC's price climbed as high as $0.00019. As such, it seems that market interest in the altcoin may be waning, with the Terra Luna Classic community currently embroiled in infighting with regards to how to boost the coin's growth.

LUNC's chart confirms the suspicion that it's in the midst of a downswing that hasn't quite played out yet. In particular, its 30-day moving average (red) continues to sink below its 200-day average (blue), with the implication being that LUNC's price won't return to consistent growth until the 30-day has bottomed.

At the same time, LUNC's relative strength index (purple) remains below 50. This is a recovery from where it was a few days ago, yet it signals that the altcoin still lacks the buying momentum necessary to carry it forwards.

At the moment, LUNC is suffering from community squabbling over how best to take forward Terra Luna Classic. Not only have validators and developers argued over how much LUNC to burn and how much to re-mint, but the past couple of days have seen a new proposal that demands the cessation of payments to developer Jacob Gadikian, apparently for "attacking and slandering validators on the Luna Classic Blockchain."

Needless to say, this is not a good look. It creates the suspicion that the Terra Luna Classic community may not be