🚨 Analyst Spots Terra Classic ($LUNC ) Bullish Pattern, Predicts Over 1,100% Surge
Terra Classic (LUNC), the original token of the now-collapsed Terra blockchain, is showing technical indicators that suggest a significant price rally is on the horizon. Crypto analyst Javon Marks (@JavonTM1) recently shared his insights on X, highlighting a bullish pattern that could propel LUNC to soar over 1000% from its current price.
Bullish Pattern Detected
Marks' analysis identifies a bullish pattern in the LUNC price chart, signaling a potential continuation of the token's upward trend. According to Marks, this trend could push LUNC to an initial target of $0.00058046, representing a 414% increase from its current price of $0.0001089.
However, Marks believes this target might be conservative. He points to a previous breakout and subsequent price rally experienced by LUNC, suggesting the potential to break through multiple resistance levels. This could drive the price up to $0.00139122, marking an impressive 1134% upswing from the current price.
Previous Predictions and Market Sentiment
This recent analysis from Marks updates a previous prediction he made on April 4, 2024. At that time, he identified LUNC as technically bullish, forecasting a "massive continuation" toward the $0.00058046 target. While LUNC has shown some upward movement, it has not yet reached this target.
Terra Classic (LUNC) Revival
LUNC's potential surge is surprising given its tumultuous past. In May 2022, the TerraUSD (UST) algorithmic stablecoin lost its peg to the U.S. dollar, triggering a collapse of the entire Terra ecosystem. LUNC, once valued at over $100, plummeted to mere fractions of a cent.
After the crash, the Terra blockchain underwent a hard fork, creating a new chain named Terra (LUNA) and leaving the original chain, now known as Terra Classic (LUNC).
As Marks’ analysis gains attention, the market is watching closely to see if LUNC can indeed achieve the predicted explosive growth.
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