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Crypto market analyst Javon Marks recently published an important prediction highlighting a notable price increase for Terra Classic (LUNC). Marks predicted a 1,134% increase that could push LUNC to $0.00139. This prediction is based on the confirmation of a bullish technical formation in LUNC’s price outlook. The level mentioned by the analyst is far from the all-time high of $0.00005922 seen in 2022.
LUNC and Bullish Outlook
Since October 2023, LUNC has shown a clear bullish outlook. The price movement emerged after LUNC hit its lowest point of $0.00005506 in October 2023, the lowest since June 2022.
This low price level also served as a stepping stone for the current bullish trend, fueled by the partial crypto rally seen in Q4 2023.
An important technical indicator supporting the bullish outlook is the rising trend line in LUNC. This line reveals a series of higher lows, indicating the potential continuation of the upward price movement. The analyst highlighted this trend line as a crucial point for the predicted price movement.
Potential Price Targets and Support Levels
The recent retest of the trend line highlighted by the analyst suggests the possibility of an imminent price increase. If the trend line holds, Marks predicts an initial price movement to $0.00058046, indicating a significant 414% increase from the current price.
Additionally, a more significant bullish potential is emphasized when historical data is carefully examined by Marks. This includes a 1,336% price increase seen in June and September 2022, which indicated a similar technical outlook.
This historical view reflects hopes that LUNC could surpass the initial target of $0.00058046. Marks points to a secondary price target of $0.00098584, followed by a potential peak of $0.001391.
To sustain the bullish trend, LUNC needs to stay above $0.00010747 for now. Additionally, breaking the resistance at $0.00011498 is critical for maintaining a potential near-term increase.
