$USTC / USDT - What To Expect! 🚨📈
USTC (TerraClassicUSD) was initially an algorithmic stablecoin tied to the Terra ecosystem, designed to maintain a $1 peg by balancing with LUNA. In 2022, it lost this peg after a market collapse, resulting in significant losses and market impacts. Today, USTC trades as a volatile asset, with ongoing community efforts to explore its potential uses within Terra Classic.
Currently, USTC is trading between its most important support and resistance zones; the key resistance is at 0.02472, and the main support level is at 0.02040. I think USTC will most likely go down, as the entire market is expected to decline, which USTC would follow.
In my opinion, the USTC team is working hard to restore the 1:1 stablecoin status, aiming to reform USTC from a common cryptocurrency back to a stable one. Although it faces many challenges and competition, if someone wants to invest, the future seems bright to me. Despite the ups and downs, I believe USTC will eventually rise remarkably, surprising those who doubted its potential as an investment.
