An investigation into Do Kwon has resulted in the continued decline of Terra Luna Classic’s (LUNC) price. However, a surge of trading volume in the past 24 hours may be the push needed for the coin to recover. This comes amid wider concerns in the crypto market, including Powell’s updates to Congress and potential release of Mt. Gox funds. LUNC’s current trading price is $0.00013840 with a 24-hour change of -2.37%. Despite recent support levels, fundamental sentiment remains weak with news of the Singapore investigation into Terraform Labs, stoking fears ignited by the SEC’s accusations of fraud against Do Kwon. Despite a bullish RSI offering some hope, LUNC’s upside potential sees the coin targeting January’s resistance at $0.00018, with a less severe downside risk at $0.000125. Poor fundamentals reject bullish technical sentiment, but some in the LUNC community believe the development of the LUNC chain and upcoming burn on Binance could push the coin to new heights. For those seeking alternative coins with higher potential, the Cryptonews Industry Talk team has compiled a list of the top 15 cryptocurrencies for 2023.
