LUNC Price Falls After $160 Million in Crypto Longs Were Liquidated
In the past 11 hours, more than $160 million worth of crypto long positions were liquidated in just one hour. This sudden event caused prices across the crypto market to drop sharply, including Terra Classic (LUNC).
LUNC price
LUNC’s price fell after facing strong resistance near 0.000056 and is now trading around 0.000053. If the price breaks below this support, it could move down to the next support area near 0.000052. On the other hand, if LUNC can recover above 0.000056, it may aim again for the next resistance around 0.000063.
The large liquidations happened because many traders used high leverage during a period of strong volatility. This shows how quickly the market can change and why careful risk management is important for all traders.
Even with the current drop, many in the Terra Classic community remain active and focused on long-term development for the project.
