Terra Classic's $0.00014 resistance could trigger a rally toward $0.00044, marking a potential +300% price surge, says analyst.
Bullish patterns, including a falling wedge and triangle, hint at LUNC's next breakout after consolidation phases.
LUNC's RSI of 63.29 and rising volume trends signal bullish momentum, with targets at $0.00022, $0.00034, and $0.00044.
According to analyst Javon, Terra Classic ($LUNC) could be poised for a substantial upward move in the altcoin market. Following multiple bullish breakouts, the token’s price movement suggests a potential +300% rally to $0.000444. This projection highlights several key developments, including a falling wedge reversal, strong consolidation phases, and current patterns signaling another breakout.
https://twitter.com/JavonTM1/status/1858495774184624317
From Downtrend to Bullish Reversals
In early 2023, LUNC’s price experienced a steep decline, forming a falling wedge with converging downward-sloping trendlines. This bearish phase saw the price drop from $0.00017 to a low near $0.00005.
The pattern concluded mid-year with a major breakout. Late 2023 marked the start of a bullish rally as prices surged by 385%, reaching $0.00022. This marked a shift in sentiment, with accumulation and consolidation shaping the market into early 2024.
By mid-2024, LUNC fluctuated within $0.00012 to $0.00022, forming a symmetrical triangle. Indicators suggested growing readiness for another potential upward move. Currently, LUNC shows signs of higher-level consolidation between $0.00009 and $0.00014, supported by a bullish triangle formation.
Key Price Levels: Resistance and Targets
LUNC faces resistance at $0.00014, a level critical for confirming its bullish continuation. The short-term target lies at $0.00022, mirroring last year’s rally, while mid-term projections extend to $0.00034.
Analyst Javon highlights a long-term target of $0.00044, which signals a potential recovery to much higher levels. These resistance points are crucial for traders seeking validation of sustained momentum.
Current Indicators Signal Bullish Momentum
At press time, LUNC was trading at $0.00011166, up by 3.48% in the past 24 hours. Fibonacci retracement levels reveal critical support at $0.00009962 and strong resistance at $0.00011890.
Source: CryptoRank
A breakout beyond this level could pave the way for further gains. Meanwhile, the RSI stands at 63.29, suggesting room for upward movement while remaining below overbought territory.
Volume trends also confirm rising bullish sentiment, with recent price increases supported by higher trading activity. As the market continues to consolidate, the next breakout could attract significant interest from the market.
