Terra Classic (LUNC) price in focus as Terraform Labs accuses Jane Street
Terraform's lawsuit has focused on Terra Classic (LUNC) with Jane Street. Terra Classic (LUNC) is showing technical resistance, $0.00003925 looking short-term. The 2026 price range is expected to be between $0.0000242 and $0.000510.
The price of Terra Classic (LUNC) has come under scrutiny as legal tensions surrounding its parent company, Terraform Labs, continue to emerge.
Investors are watching closely after news broke that Jane Street, the management firm that oversees the wind-down of Terraform Labs, is suing.
Prior to TerraUSD's collapse in May 2022, the trading firm used non-public information from Terraform insiders.
This legal action adds new uncertainty to LUNC owners.
The first Terra blockchain that many remember was renamed Terra Classic after the crash, and a new Terra 2.0 network was launched.
LUNC is now trading at around $0.00003509, down about 46% from last year, with approximately 5.47 trillion coins in circulation.
Jane Street charges
The lawsuit focuses on allegations that Jane Street obtained classified information through back channels.
This terraform reportedly allowed the company to withdraw large amounts of UST from liquid pools within minutes of internal operations.
The complaint alleges that these trades contributed to the widespread failure and accelerated bankruptcy of Sterraform's lenders.
Jane Street denied the allegations, calling the claims baseless and emphasizing that the market turmoil was driven by internal mismanagement at Terraform.
Legal observers note that the case could have an impact not only on the firms involved, but also on market perception around LUNC and other related assets.
LUNC price analysis
Despite its tumultuous history, LUNC has shown some resilience.
The coin has been trading between $0.0000343 and $0.00003516 in the last 24 hours, showing a slight level of stability.
Analysts such as For-Exx Kripto note that the coin remains in a flag formation, although the pattern has recently experienced a slight breakout.
This break could have signaled a sharp decline, but LUNC did not fall significantly.
This can be interpreted as a bullish signal in the short term, suggesting that a price test of $0.00003925 may be on the horizon.
Although the coin is still far from its all-time highs, such technical patterns hint that it may continue to move higher despite broader market challenges.
Trading volume was moderate, with nearly $8.9 million changing hands in the last 24 hours.
Terra Classic price forecast
Looking ahead, analysts project that LUNC could trade in a wide range by 2026.
The expected low level is around $0.0000242 and the high target may reach $0.000510 by the end of the year.
Key levels to watch include support near the $0.000024 mark, which could act as a floor in times of market weakness.
Resistance is around $0.000510, which represents a potential target for profit-seeking traders.
Short-term moves around $0.00003925 could provide intermediate targets, especially if the market reacts positively to technical signals or news of ongoing regulatory developments.
