Terra (LUNA) has surged nearly 100% over the past two days, briefly reaching a high of $0.16 before pulling back slightly to $0.14. Just earlier this week, the token was trading around $0.07.
Reasons Behind the Surge
The other reason is a viral moment at Binance Blockchain Week in Dubai. A journalist was photographed wearing a Terra Luna Classic (LUNC) t-shirt, prompting online discussion and a brief wave of community interest.
The rally also coincides with renewed media coverage surrounding Do Kwon, co-founder of Terraform Labs. Kwon is set to be sentenced on December 11 in New York, with U.S. prosecutors seeking a 12-year prison term following his guilty plea in August. While some traders have speculated that the approaching sentencing may have reduced legal uncertainty, there is no clear evidence linking the event to the price movement.
The rally might also be partially related to incoming Terra’s v2.18 network upgrade . The update includes changes aimed at chain stability and token burns.
Read also: The Collapse of LUNA and TerraUSD (UST) – How Did It Happen?
Technical Breakout
LUNA had been trading within a falling wedge pattern for several weeks. This structure, often seen by traders as a reversal signal, broke to the upside earlier this week. The move was supported by a sharp increase in trading volume, which rose over 90% in a 24-hour period. Indicators such as the Relative Strength Index (RSI) also turned positive during the rally, crossing into overbought territory.
Despite the sharp increase in price, LUNA remains well below its earlier 2025 levels. The token has lost over 80% year-to-date, and current prices are still significantly lower than before the 2022 ecosystem collapse.
