Cryptocurrency market analyst Javon Marks has recently forecasted a substantial price surge for Terra Classic (LUNC), envisioning a rise to $0.00139, translating to a 1,134% increase. This optimistic prediction stems from the recognition of a robust bullish technical pattern within LUNC’s price trajectory. Marks highlighted that this anticipated price is still far from the all-time high of $0.00005922 achieved in 2022.
What Fuels LUNC’s Bullish Prediction?
Since October 2023, LUNC’s price trend has shown a distinctly bullish behavior, rebounding from a low of $0.00005506, the weakest level since June 2022. This rebound has coincided with a partial rally in the broader crypto market during the fourth quarter of 2023, serving as a catalyst for LUNC’s price uptrend.
Why Are Technical Indicators Important?
A significant technical indicator supporting the bullish forecast is the ascending trend line in LUNC’s chart, characterized by a series of higher lows. This pattern suggests the likelihood of continued upward momentum. Marks emphasized this trend line as a pivotal factor for the projected price movement.
Important Considerations for Investors
– Monitor the trend line closely; maintaining this support is crucial for sustained growth.
– Initial target: $0.00058046, representing a 414% increase from current levels.
– Historical data indicate a potential surge to $0.00098584 and possibly $0.001391.
– Critical support level: $0.00010747; key resistance level: $0.00011498.
– Staying above these levels is essential for near-term price continuation.
To achieve the bullish projections, LUNC must hold above the $0.00010747 support level. Additionally, overcoming the resistance at $0.00011498 is critical to sustain the upward momentum and approach the predicted targets.