- Crypto market analyst Javon Marks predicts a 1,134% increase in Terra Classic’s (LUNC) price, setting a target of $0.00139, based on a bullish technical pattern.
- LUNC’s recent uptrend and key technical indicators suggest potential significant price movements, building on historical price surges.
Crypto analyst Javon Marks has set the stage for an astonishing rally in Terra Classic (LUNC), projecting a price increase of 1,134% to reach $0.00139. This bold forecast rests upon the confirmation of a bullish technical pattern observed on LUNC’s price chart, which could propel it beyond its previous all-time high of $0.00005922, achieved in September 2022.
Uptrend and Technical Indicators
Since October 2023, Terra Classic (LUNC) has been on a pronounced uptrend, despite broader market challenges. This rally follows a low of $0.00005506 in October 2023, marking a significant recovery from earlier lows and benefiting from the general cryptocurrency market upturn that began in late 2023.
Key to this bullish outlook is the ascending trendline visible on LUNC’s 3-day chart, indicating a pattern of higher lows that suggests further upward movement. Analyst Javon Marks underscores the importance of this trendline, pointing to its role in predicting future price movements.
Potential Price Targets and Support Levels
Marks identifies potential price targets for LUNC based on historical price action and current technical indicators. He anticipates an initial surge to $0.00058046 if the trendline holds, which would mark a 414% increase from current levels. Drawing from past data, Marks suggests LUNC could surpass this initial target, setting secondary goals of $0.00098584 and a peak of $0.001391.
For this bullish momentum to continue, Terra Classic (LUNC) must maintain support above the 20-day Simple Moving Average (SMA) at $0.00010747. Breaking through the resistance level at the upper Bollinger Band ($0.00011498) is also crucial to sustaining short-term bullishness, while a drop below $0.0001 could signal a trend reversal.
Community Efforts and Future Developments
In addition to technical indicators, the Terra Classic community is actively working to revive the ecosystem, contributing to potential price recoveries. While Marks’ forecast offers valuable insights, it’s essential to note that cryptocurrency markets are inherently volatile, with unforeseen factors capable of influencing price movements.
Conclusion
As Terra Classic (LUNC) continues its upward trajectory, close monitoring of technical indicators and ecosystem developments will be pivotal in assessing the accuracy of these predictions and the overall health of the project. Investors and enthusiasts alike are advised to stay informed and exercise caution in volatile market conditions.