bitcoin
bitcoin

$70664.24 USD 

-1.70%

ethereum
ethereum

$2553.33 USD 

-4.77%

tether
tether

$0.999261 USD 

-0.05%

bnb
bnb

$577.41 USD 

-3.43%

solana
solana

$170.25 USD 

-2.63%

usd-coin
usd-coin

$0.999941 USD 

-0.01%

xrp
xrp

$0.509829 USD 

-2.33%

dogecoin
dogecoin

$0.165963 USD 

-0.55%

tron
tron

$0.168592 USD 

-0.14%

toncoin
toncoin

$4.82 USD 

-3.21%

cardano
cardano

$0.345606 USD 

-2.88%

shiba-inu
shiba-inu

$0.000018 USD 

-1.87%

avalanche
avalanche

$25.01 USD 

-4.45%

chainlink
chainlink

$11.65 USD 

-4.39%

bitcoin-cash
bitcoin-cash

$362.39 USD 

-2.23%

Cryptocurrency News Articles

LUNC and LUNA See Renewed Interest as Terra Labs Faces SEC Legal Battle

Oct 31, 2024 at 08:28 pm

Terra Labs faces an intense legal battle with the U.S. SEC, sparking significant interest in Terra Classic (LUNC) and Terra (LUNA) prices.

LUNC and LUNA See Renewed Interest as Terra Labs Faces SEC Legal Battle

Terra Labs, the company behind the failed stablecoin TerraUSD (UST), now faces a class-action lawsuit filed in the U.S. District Court for the Southern District of Florida. The lawsuit, filed on behalf of investors who purchased LUNA or LUNC tokens between May 2021 and May 2022, alleges that Terra Labs violated federal securities laws by making false and misleading statements about the tokens.

The class-action suit comes amid a broader legal reckoning for Terra Labs following the spectacular collapse of UST and LUNA in May 2022. The company has faced scrutiny from the U.S. Securities and Exchange Commission (SEC), which is reportedly investigating whether Terra Labs offered unregistered securities.

The collapse of TerraUSD and LUNA also sparked a wave of interest in the Terra Classic (LUNC) and Terra (LUNA) tokens, both of which have shown interesting price movements and trading activity in recent times. Here's a closer look at the recent price action and technical aspects of LUNC and LUNA.

LUNC Price Analysis: A Period of Consolidation Followed by Gradual Rise

Terra Classic (LUNC) has seen a gradual uptick in price over the last 24 hours, rising by 4.43% to trade at $0.0000919 at the time of writing. This price increase comes after a period of consolidation, where LUNC hovered around the $0.00009 level for several days.

However, trading activity for LUNC has picked up again recently, with trading volume surging by 140.46% over the last day. This surge in trading volume suggests that there is a growing interest in the LUNC token once more.

As LUNC attempts to sustain higher prices, several key support and resistance levels could influence its price movements. During recent consolidations, LUNC found support at $0.000094, which held the line against further declines. Additionally, in previous downward trends, LUNA encountered support at $0.000092, preventing steeper drops.

On the other hand, LUNC now faces resistance at $0.000098, a level it has struggled to cross in recent trading sessions. If LUNC manages to break through this resistance, the next psychological barrier lies at $0.00010, a price point that tends to see increased market activity.

If trading volume remains high for LUNC, especially relative to its market cap, which currently stands at 9.75%, the token may attempt to push through the $0.00010 resistance. However, if trading volume drops, a retest of lower support levels could follow.

LUNA Price Analysis: Modest Price Increase and High Trading Volume

Terra (LUNA) has also seen a modest price increase over the last 24 hours, with the token trading at around $0.3596 at the time of writing, up by 1.78% from the previous day. This price increase follows a period of consolidation, where LUNA hovered around the $0.35 level for several days.

Similar to LUNC, trading activity for LUNA has picked up again recently, with trading volume surging by 93.03% over the last 24 hours. This surge in trading volume indicates sustained interest in the LUNA token.

As LUNA attempts to sustain higher prices, several key support and resistance levels could influence its price movements. During recent declines, LUNA found support at $0.3532, which helped stabilize prices and prevented further drops. A more substantial support level lies at $0.345, where prices have historically been propped up, preventing steeper declines.

Conversely, LUNA now faces resistance at $0.360, a level it encountered during the recent uptrend. A breakthrough here could open the path to $0.365, a level marking the recent high. If trading volume remains robust, LUNA may challenge this upper resistance.

However, a volume drop could see prices revert toward the support at $0.3532. Technical indicators, such as the volume-to-market cap ratio, also provide insights into the strength of price movements.

For both LUNC and LUNA, if prices continue to move in the same direction as trading volume, which is currently high for both tokens, they may attempt to break through the immediate resistance levels.

On the other hand, if trading volume stalls or reverses, both LUNC and LUNA could fall back to test their respective support zones.

News source:coinedition.com

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Nov 01, 2024