“Is Terra Luna Classic (LUNC) in Trouble Due to Recent SEC Lawsuit?”

The Terra Luna Classic price has fallen to $0.00016791, with its 4.5% drop today following the news that the SEC is charging Terraform Labs and CEO Do Kwon “with orchestrating a multi-billion dollar crypto asset securities fraud.”

LUNC remains up by 4.5% in the past week, but is down by 4% in the last 30 days, amid a turbulent time for the market as a whole.

Despite the bad news for Terraform Labs and (the still fugitive) Do Kwon, LUNC isn’t directly affected by the SEC’s charges, given that it’s a different coin.

Nevertheless, the Terra Luna Classic price has still taken a hit, and it’ll be interesting to see how the market reacts in the coming days and weeks.

Terra Luna Classic Price Prediction as the SEC Sues Terraform Labs and Do Kwon – Is LUNC in Trouble?

LUNC’s indicators have responded negatively to yesterday’s news, with the coin’s relative strength index (purple) dropping from 70 a few days ago to just under 40 today.

This indicates that the selling pressure is increasing, while the fact that it hasn’t fallen below 30 (yet) signals that the price still has plenty of space to fall before it becomes oversold.

Likewise, LUNC’s 30-day moving average (red) has stalled after looking like it might be climbing back toward its 200-day average (blue). As such, it now appears that the 200-day average will continue to act as a resistance level.