The Terra Classic Price (LUNC) and market capitalization fell significantly in August 2023, mirroring the overall crypto market.
Amid the crypto asset selloff in August of 2023, the Terra Classic Price (LUNC) experienced a substantial decline. The developers propose dynamic minimum commissions for validators to defend the Terra Luna Classic network from vulnerabilities.
Weak Terra Classic Support?
The LUNC market cap has dropped by as much as $100 million in the last 30 days, to $360 million currently. This could mean that fewer people want to buy the coin, which could cause the price to drop even more. Blastoise, a LUNC supporter, says the USDT pairing token’s support level is $0.000055 and resistance is $0.000068.
“The price is at support, which is good. If price holds above support, it may indicate an upside reversal.”
However, a price break below support might continue the downward trend. Will LUNC go below $0.000055? Before the US Federal Reserve’s FOMC meeting on September 19-20, 2023, the crypto market may be volatile, which could affect Terra Classic.