Terra Luna Classic (LUNC), a cryptocurrency, has been witnessing a significant price surge, powered by multiple developments and backing from leading crypto exchange Binance. The value of LUNC has seen an impressive growth, escalating by 180% since the beginning of the year and an extraordinary 400% since the previous October. An analyst predicts that the upward trend may carry LUNC to a further 270% gain.
Analyst Predicts Continued Momentum for LUNC
Javon Marks, a cryptocurrency expert, recently shared insights suggesting that LUNC’s current upward trajectory is far from over, with the potential to climb an additional 270%. This growth projection is based on the premise that the ongoing bull market remains strong.
Marks also highlighted a potential target for LUNC’s price, which could hit $0.00058046 if the uptrend persists. The prediction is anchored in the recognition of a bull flag pattern that has been forming over an extended timeframe.
Speculating on Bitcoin‘s mid-April halving, Marks proposed that a concurrent rise of LUNC to the $0.0005 mark could trigger a significant price breakout.
As for resistance, LUNC faces its next major hurdle at the $0.0002 level. March saw the price reach $0.000255, sparking considerable interest. The support level remains robust at $0.00015. Both futures and spot markets are currently bolstering the ascent, with LUNC futures maintaining about $40 million in open positions.
Technical Upgrades Bolster Terra Luna Classic
In parallel to these market dynamics, the Terra Luna Classic community celebrated a significant upgrade earlier this week, with the v2.4.2 upgrade anticipated to fuel further price increases. The update is set to facilitate the addition of decentralized applications (dApps) to the platform. Additionally, Genuine Labs has reported advancements in the Terra Classic Security Package upgrade, promising enhanced security, functionality, and interoperability.