Terra (LUNA) prices are witnessing one of the dreadful days in their history along with its investors. The prices failed each and every attempt to break above the consolidation and currently lead the losers lists. However, despite the recovery plans has been put forth and the execution to begin soon.
It is a known fact that the Terraform Labs was dissolved as UST lost its peg and LUNA price dropped hard. Moreover, the legal team of the platform also resigned immediately after the crisis. Therefore, the founder now is all set to move on with his proposed plan of a LUNA-Fork. But the question remains the same whether the retail investors will be compensated for the losses?
Currently, the entire crypto space is witnessing a pullback as Bitcoin prices are unable to secure positions above $31,000. After trading above $30,000 for some time, the prices quickly fell below $29,000 in the early trading hours. Despite the bulls trying very hard to recover, a huge bearish pressure may not allow them to do so. As the technicals also are pretty bearish, no possible relief may be expected until the end of the weekly trade.
Therefore, as Bitcoin maintains a huge dominance of 44.6% in the entire crypto space, a larger move may ignite a significant upswing among all the altcoins. Collectively a combined effort of the Terra revival plan and the market movements may only pave way for a significant upward swing for the asset. However, the LUNA price reaching the levels like $10, $20 or $50 is just a sweet dream but in reality, even if the prices hit $1 may be a very big comeback for the asset.
On the other hand, other than the revival plan, until and unless, the excess minted LUNA tokens are burnt, no significant change in price may be seen.