The rise in Terra Luna Classic (LUNC) price continues at full speed. With a series of developments and support from the world’s largest crypto exchange Binance, the price has increased by 180% this year, and by 400% since last October. A cryptocurrency analyst indicated that due to the emergence of an upward trend formation, there is still more than 270% upside potential in LUNC.
Will LUNC Price Continue to Rise?
Cryptocurrency analyst Javon Marks, in an article shared on the X platform, stated that the LUNC price is currently maintaining its upward trajectory and that the rally is not yet over. He also mentioned that the Terra Luna Classic price could rise by more than 270% if the bull market continues.
He also pointed out that if the price experiences a noteworthy rise, LUNC could move towards a target of $0.00058046.
This price prediction reflects the appearance of a large bull flag pattern formed over a long period. He also notes that a move by LUNC price towards the $0.0005 level could coincide with Bitcoin‘s halving in mid-April, potentially resulting in a breakout.
Meanwhile, the next major resistance level for LUNC is calculated at the $0.0002 level. LUNC price reached $0.000255 in early March, attracting all the attention and is thought to be able to move towards new targets amid the bull market. LUNC maintains a notable support level at $0.00015.
Futures and spot markets continue to provide sufficient support for more upward movement during the ongoing bull phase. The net LUNC and 1000LUNC futures open positions are around $40 million, and there has been a 2% increase in Open Interest in futures in the last four hours.
Developments in Terra Luna Classic
On the other hand, a major upgrade took place at the beginning of this week within the Terra Luna Classic community. After the successful implementation of the v2.4.2 upgrade, it is hoped that the LUNC price can reach new high levels following this bull run.
The upgrade will assist in adding dApps to Terra Luna Classic, including IBC-Hooks, primarily for Enterprise DAO.
Furthermore, Genuine Labs announced progress in the Terra Classic Security Package upgrade. This represents a new level in terms of security, functionality, and interoperability.
