Terra Luna Classic (LUNC) accelerates thanks to strong capital flow and expectations from network upgrades

Terra Luna Classic (LUNC) is experiencing an impressive rebound, currently trading above $0.000061 on Wednesday evening, representing a weekly gain of over 22%. Continuous capital inflows, increasing open contracts, and bullish sentiment ahead of the upcoming network upgrade are fueling the rally. From a technical standpoint, LUNC’s trend remains bullish, with the bulls targeting a price level above $0.000081.

Positive On-Chain Signals Appear Ahead of Network Upgrade

The price of Terra Luna Classic started the new week on a positive note, maintaining the green after a 84% surge last week. Derivatives market signals also support this upward momentum: open interest (OI) in LUNC futures on exchanges jumped from $18.15 million on Monday to $25.55 million on Wednesday. The sharp increase in OI indicates new capital flowing into the market, renewed buying pressure, and continued support for LUNC’s upward trend.

Open Contracts (OI) in LUNC Futures | Source: CoinGlass Last week, the Terra Classic development team released terrad v3.6.1 — an update aimed at fixing issues from the old contract and optimizing dependencies. The proposal is currently awaiting community and validator approval to upgrade the blockchain to v3.6.1 (upgrade code: v13_1), with an automatic chain halt at block 26,479,000, scheduled for December 18.

According to the documentation on GitHub, this upgrade has been successfully tested on the rebel-2 testnet, with a rollback plan ready to revert to v3.6.0 if issues arise on the mainnet.

Once officially deployed, the update is expected to enhance security, expand functionality, and improve the stability of the entire Terra Classic network, thereby increasing operational efficiency and long-term sustainability.

Data from DefiLlama also shows a significant increase in capital inflows into the ecosystem — a sign of renewed investor confidence, likely driven directly by the upcoming network upgrade.

Source: DefiLlama## Terra Luna Classic Price Forecast: LUNC Bulls Aim for Higher Gains

On the weekly chart, Terra Luna Classic is moving within a descending wedge pattern and is currently trading above the 50-week EMA at $0.000056, after gaining 24% since the start of the week.

If LUNC closes the weekly candle above the 50-week EMA (0.000056 USD), the bullish momentum could extend toward the next resistance at $0.000098.

The weekly RSI indicator is at 56 — above the neutral threshold of 50 — indicating increasing bullish momentum. The weekly MACD has also shown a bullish crossover (bullish cross), further supporting the bullish outlook.

Weekly LUNC/USDT Chart | Source: TradingView On the daily chart, LUNC found support at the 61.8% Fibonacci retracement level — around $0.000047 (from the bottom on 12/2 at $0.000026 to the top on 12/6 at $0.000081). From this level, the price rebounded by 22% the following day. As of Wednesday noon, LUNC is hovering around $0.000061.

If this trend continues, the price could reach the December 6 high at $0.000081.

Daily LUNC/USDT Chart | Source: TradingView The daily RSI is at 71 — in the overbought zone, indicating strong upward momentum. The MACD also shows a bullish crossover with expanding green histogram, suggesting the upward trend may continue.

Conversely, if LUNC corrects, the price could decline to the next key support zone at $0.000047.