Can Terra’s LUNA recover and reach $120 again?

LUNA price plummets nearly 38% despite a 200% increase in trade volume.
Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins.
Binance CEO CZ believes Do Kwon’s plan to save LUNA will not work as forking does not add value to the new fork.