Luna Classic (LUNC) Price Under Bearish Pull Despite New Developments

The LUNA Classic (LUNC) price has noted a fresh decline in the last 24 hours. In that time frame, the altcoin depreciated by 1%. In the past week, LUNC logged gains worth 2.5%. Much of the weekly gains have been lost due to losses on the daily chart.
At the moment, LUNC depicts consolidation beneath its immediate resistance mark. With the FTX collapse, LUNC has been teetering under a bearish influence for quite some time. Over the last month, the coin has lost more than 10% of its market value.