The Terra Luna Classic (LUNC) price has been on a rollercoaster ride since the much-anticipated upgrade to v3.0.1 on June 2, 2024. The community's enthusiasm drove the price up on May 30, followed by a slight retreat, exhibiting a classic "buy-the-rumor-sell-the-news" pattern. Currently, LUNC is trading at $0.00012, reflecting a 2.2% increase over the past 24 hours and a 0.6% gain over the past week.

Technical analysis reveals a bullish outlook for LUNC, with the price trending above both the 50-day and 200-day simple moving averages (SMA). The formation of an ascending triangle indicates a potential breakout, and the recent upward surge on May 30 suggests a retest of the upper boundary. If the price bounces off this resistance-turned-support, it may target $0.0001760, representing a 50% increase from the current level.

However, the journey upward may encounter resistance at $0.000136 and $0.000154. On the other hand, if the price reverses, support levels may be found at $0.000105 and $0.00009. The future direction of LUNC largely depends on the blockchain's progress, driven by community efforts. The outcome of the Do Kwon and Terraform Labs lawsuit and upcoming statements from Chris Amani, CEO of Terra Money, may significantly impact the LUNC ecosystem.

As investors keep a close eye on the markets, the recent dump in LUNA, the descendant of LUNC, has sparked interest in the Terra Luna Classic price. Despite the uncertainty, the LUNC community remains optimistic, and the pace of network development has increased under Genuine Labs' leadership, signaling a promising future for Terra Luna Classic.

In conclusion, the LUNC price is poised for a potential breakout, with a 50% gain in sight. As the community awaits further developments and statements, the future of Terra Luna Classic looks bright, enticing more investors to join the journey.