Terra Classic ($LUNC ) is showing signs of a significant bullish breakout, with the potential to rally by over 300% to $0.00044, according to analyst Javon. A series of technical indicators, including a falling wedge reversal and a bullish triangle pattern, suggest LUNC may be on the verge of substantial upward momentum.
From Downtrend to Bullish Reversals
In early 2023, LUNC experienced a sharp decline, dropping from $0.00017 to lows near $0.00005. This bearish phase formed a falling wedge pattern with converging downward-sloping trendlines.
Mid-2023 Recovery: The falling wedge concluded with a breakout, leading to a 385% rally by late 2023, where prices reached $0.00022.
Consolidation Phase: Following this rally, the market entered a consolidation phase, fluctuating between $0.00012 and $0.00022, forming a symmetrical triangle pattern by mid-2024.
Currently, LUNC is consolidating between $0.00009 and $0.00014, with the bullish triangle suggesting readiness for another breakout.
Key Price Levels and Targets
Immediate Resistance: $0.00014 remains the critical resistance level. A successful breakout here would confirm bullish continuation.
Short-Term Target: $0.00022, aligning with last year’s rally.
Mid-Term Target: $0.00034.
Long-Term Projection: $0.00044, marking a potential +300% surge from current levels and signaling broader recovery.
Bullish Momentum Indicators
At the time of writing, LUNC is trading at $0.00011166, up 3.48% in the last 24 hours. Key indicators supporting a bullish outlook include:
Fibonacci Retracement Levels: Critical support at $0.00009962 and resistance at $0.00011890. A breakout beyond these levels could unlock further gains.
RSI at 63.29: The RSI suggests bullish momentum with room for further upward movement, staying below overbought levels.
Volume Trends: Rising trading volumes confirm growing bullish sentiment, providing strong support for potential breakouts.
Conclusion
LUNC’s technical setup and market dynamics indicate a strong possibility of significant price movement in the near term. With resistance levels clearly defined and bullish momentum building, traders and investors are closely monitoring $LUNC for confirmation of a breakout.
Analyst Javon’s projection of a potential 4x surge underscores the opportunities for traders to capitalize on LUNC’s next upward phase.