Terra Classic Price Analysis: Will LUNC Price Recover $0.0001 Mark this Week?

Terra Classic Price Analysis: Similar to a majority of major altcoins, the LUNC price witnessed a steep correction last weekend and plunged to the local support of $0.000082. The 4-hour chart showed a new downsloping trendline carrying this correction phase, assisting sellers in maintaining trend control.

Timeline of Terra-luna

A group of Terra Classic Core developers, the Joint L1 Task Force (L1TF), has announced that it is ready for the Parity Upgrade, set for the 14th of June, 2023. The Terra Classic Community unanimously voted in favor of Proposal 11561, paving the way for the critical update to be implemented.

The world's largest crypto exchange Binance on Wednesday said it will support the Terra Classic (LUNC) network's biggest v2.1.1 upgrade as the community officially passed Proposal 11561. It will bring the blockchain to parity with Terra 2.0 and other Cosmos chains.

The embattled LUNC community eagerly awaits the arrival of the much-anticipated Terra Classic parity upgrade mainnet 2.1.0 on June 14th, 2023. Despite recent struggles, Terra Luna Classic (LUNC) has climbed impressively in the global crypto market cap charts, recording a remarkable 10.9% gain in the past 24 hours.

The crypto market has been bleeding lately, and leaders like Bitcoin and Ethereum have been on a downtrend. In addition, the Securities and Exchange Commission's crackdown on top trading platforms Coinbase and Binance has further made things worse as the crypto winter has persisted.

Terra Luna Classic core developer Joint L1 Task Force (L1TF) has made some significant changes to the v2.1.0 upgrade, changing the name to v2.1.1. According to the GitHub release, L1TF developers Till Ziegler or “fragwuerdig” and The Vinh Nguyen have made 19 additions and 9 deletions to some files.

Terra Classic Price Analysis: The LUNC price showed a significant downturn last week, as the crypto market witnessed a heavy sell-off in altcoins. From the peak of $0.000115, the coin price tumbled nearly 24.5% to reach the current price of $0.000086.

Against the backdrop of the cryptocurrency market's struggles with regulatory uncertainty that has led to multiple lawsuits against major crypto businesses, Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has marked an important occasion.

Terra Classic core developer group Joint L1 Task Force (L1TF) is all prepared for the Terra Classic blockchain's biggest v2.1.1 parity upgrade on June 14. With Proposal 11561 “Upgrade to v2.1.0” passed by the Terra Luna Classic (LUNC) community, LITF has shared a status update on the readiness and details of the upgrade.

During the past seven days, the price of LUNC, the cryptocurrency of Terra Classic, has displayed a back-and-forth movement characterized by alternating green and red candles. This pattern suggests a lack of dominance from buyers or sellers, indicating uncertainty in the market regarding the direction of the trend.

LUNC News: Terra Luna Classic (LUNC) staking has officially reached 1 trillion, hitting a historic milestone. The community has waited long enough for this historic achievement after professor Edward Kim-led developer team introduced staking to Terra Classic last year.