Terra Luna Classic's Most Ambitious Price Prediction / Lunc Coin Last Minute / Crypto Analysis
1 year ago
Terra Classic
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In what direction will the Terra Luna Classic (LUNC) price move after the arrest warrant of the partners of Terra (LUNA) founder Do Kwon, which had a profound impact on the cryptocurrency markets after its collapse?
Cryptocurrency analysts covering Terra Luna Classic noted that the LUNC/USDT pair is in an uptrend as it gains support at $0.000169, a support level extended by an upside trendline. The stated price action comes after a South Korean judge issued an arrest warrant for the associates of Terra founder Do Kwon.
South Korea-based news website Yonhap News reported that Seoul Southern District Court Chief Warrant Judge Hong Jin-Pyo has withdrawn the arrest warrant for Terraform Labs co-founder Shin Hyun-seong and Kwon's other collaborators. The judge suggested that the risk of either Shin or Terra partners destroying evidence related to the lawsuit brought against the cryptocurrency firm was "very small". The news came as a relief to Terra Luna Classic investors, who were concerned about the potential impact of the arrest warrants on the cryptocurrency firm and its price.
He has been active on social media since Terra's collapse, although many crypto investors hold Kwon personally responsible for their losses and the current bear market. Terra's co-founder said in September that he was making "zero efforts to hide" from law enforcement. He even participated in a live podcast with renowned hedge fund manager Martin Shkreli discussing FTX and Shkreli's time behind bars. As a result of this being interpreted as a positive event for LUNC investors, LUNC experienced a small price increase.
On the daily time frame, the LUNC/USDT pair broke above the $0.00014 support level with an uptrend line, according to analysts. It is stated that LUNC price is currently facing a resistance at $0.00021 after breaking the $0.00016 resistance.
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