Terra Classic (LUNC) has lost about 31% since the start of June, sliding through key support as a marketwide selloff pulls small-cap tokens lower.
Key Points:
- Terra Classic has fallen roughly 31% since Jun. 1, marking five straight losing sessions.
- Trading volume rose during the drop but stayed below its 20-day average, hinting at limited panic selling.
- Analysts suggest waiting for a clear trend shift before buying the decline.
LUNC Loses Key Support
Terra Classic dropped to around $0.000059 on Friday, extending a streak of red sessions that began Jun. 1. Market data showed the token shed close to 31% over that span.
Daily trading volume climbed about 20% through the slide, yet it stayed under the 20-day average.
The retreat tracked a broad risk-off mood that battered larger coins. Bitcoin (BTC) endured one of its weakest weeks of the year, dragging high-beta names like LUNC down with it.
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Indicators Flash Caution
The selloff pushed LUNC below the $0.000072 floor and stalled near the $0.000087 ceiling that capped its late-May rally. Even so, the price held the 78.6% retracement near $0.000054, a level bulls defended into the weekend. On the higher timeframe, the swing range between $0.000035 and $0.000123 still framed the broader trend.
Momentum leaned bearish, with the MACD sitting below its zero line.
Terra Classic Eyes A Rebound
On the hourly chart, the trend had not flipped, and a reclaim of $0.0000686 would show buyers back in control. With flow gauges still pointing to restrained selling rather than a rush for the exit, analysts favor patience over fresh bids.
The slump follows a sharp run higher in late May, when the token rallied toward $0.00012 on May 6. Burns and cooling momentum then gave way to the June pullback.
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