Leading cryptocurrency analyst Javon Marks predicts that Terra Classic's native coin, LUNC, will rise by nearly 400 percent. Marks expects the LUNC to break out of its current horizontal channel and move higher, supported by significant momentum.
Marks predicts that the price of LUNC may rise higher after the breakout. According to him, the speed of the rally could be so fast that most crypto users cannot understand it. The crypto analyst referenced an old tweet from June 14 in which he identified a key support level as the emerging strength of the altcoin. In the tweet in question, he stated that the digital asset has exhibited a significant reversal of momentum.
On July 14, Marks predicted a 367 percent rally for the altcoin. In his last tweet, he raised that target to 387 percent, which is much closer to the reported psychological target of 400 percent.
The Terra Classic community recently voted in favor of creating a community-owned wallet. Reports suggest that the wallet will empower stakeholders to manage its infrastructure and reduce dependency on external assets. The approval of the proposal was followed by a Terra price increase. This showed an increase in investors' confidence in the platform's decentralized developments.
The expectation of an increase in the price of LUNC is growing!
LUNC's price has retreated since the spike, losing almost all of the gains made. However, analysts insist that significant rally potential exists for LUNC. They predict that it may take time for the rally to occur, following the ongoing developments in the Terra Classic ecosystem. Investors and altcoin holders can expect a price increase in the future as developers try to implement changes resulting from approved proposals.
Further support for the altcoin's potential rally depends on overall sentiment in the crypto industry. The Bitcoin rally expected in April 2024 is expected to increase crypto prices. Finally, LUNC was trading at $0.00008148 at the time of writing.
