Can Terra Classic (LUNC) Recover after Massive Losses?
Terra Classic (LUNC) is a major loser today in a cryptocurrency market that is trending bearish. The LUNC coin is down 14.11%, bringing its rate to $0.0001567 (LUNC/USD).
Terra Classic Moves from Bullish to Bearish
This coin just crested, having achieved a gain of 26% in two days over the Christmas holiday and then falling immediately afterwards. The coin has been dropping since yesterday in a sharp decline that is not quite as steep as its ascent. This bodes well for anyone hoping the coin will turn around and stop its current bearish trend.
LUNC’s trade volume is down about 9% right now, trading $235.5 million over the last 24 hours. It is possible that investors are staying away from it now because it has just come out of a bull trend, and they do not expect it to rebound quickly at the moment. They could be waiting out the bottom of the current trend for when the price is at its lowest.
When Should You Invest?
As Terra Classic continues to drop, the downward momentum should begin slowing at some point, probably in the next day or so. That may be a good opportunity to invest before the coin’s rate turns around, but it could also be a calm before another drop. It is worth noting that the recent bullish trend was a high mark for the coin in the period encompassing the last 30 days. It is unlikely that LUNC will reach those heights again very soon.
In other words, investors should not be waiting for a repeat of the high $0.0001835 price point to sell, if they are investing during the trough. They will likely be disappointed when LUNC does not quite achieve those same heights.
Terra Classic currently enjoys a #40 ranking in the crypto market, so even if it is going through a rough spot, there is plenty of activity to keep things interesting and plenty of opportunities for investors to make a profitable move. Those who invested early in 2022, however, will have a long time to wait for a recovery back to where it was at the beginning of the year. LUNC dropped off a cliff in May and never recovered to any appreciable extent. For those investing after the drop, though, there will likely be some positive numbers to look forward to.
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