Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,192,921,697,841	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,192,921,697,841

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	493.92	0.82%	60,805.84	60,805.83	60,805.84

Price Change

Price Change %

Current Price

Bid Price

Offer

493.92

0.82%

60,805.84

60,805.83

60,805.84

High Price	Low Price	Open Price	Prev. Close	52 Week Range
60,892.00	60,273.80	60,306.17	60,311.92	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

60,892.00

60,273.80

60,306.17

60,311.92

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:12:46	0.038563	60,805.84	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:12:46

0.038563

60,805.84

USD

Price x Volume	Volume	Base Symbol	Related Pairs
80,749,752.32	1,331.84	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

80,749,752.32

1,331.84

Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase

26/06/2024 2:00pm

NEWSBTC

Terra Classic (LUNC), the phoenix attempting to rise from the ashes of the infamous TerraUSD crash, is once again capturing investor attention. Coincodex analysts predict a modest 10.7% price increase by July 25th, while renowned crypto analyst Javon Marks throws a much bolder 1,500% surge into the ring. So, is LUNC poised for a bullish breakout, or is this just another mirage in the volatile crypto desert? Related Reading: Injective (INJ) Price Prediction: Analyst Foresees Huge Jump To $380 A Token Reborn: LUNC Capitalizes On Market Volatility LUNC, once the backbone of the collapsed TerraUSD (USTC) stablecoin ecosystem, has defied expectations. While USTC lost its peg to the US dollar and spiraled into oblivion, LUNC has exhibited surprising resilience. The past 24 hours saw an 82% price jump, showcasing continued investor interest in the controversial token. This resilience coincides with a broader market trend where investors, wary of traditional assets, are seeking refuge in digital currencies perceived as having strong recovery potential. Analyst Divided: Measured Optimism Vs. Moon Shot Coincodex paints a picture of cautious optimism. Their prediction of a 10.7% rise suggests LUNC may experience a slow and steady climb. This aligns with the “Fear & Greed Index” which currently sits at a moderate “Fear” level, indicating a cautious market. We remain here $LUNC (Terra Classic)’s first target at $0.00058046, implying a more than +594% upside from here to reach it in response to a long-standing breakout. Trend-Wise, based on the previous breakout and climb, this level can be exceeded with heights of $0.00139122 being… https://t.co/rAbwsHIkqY pic.twitter.com/XOYdulvUc8 — JAVON⚡️MARKS (@JavonTM1) June 24, 2024 However, analyst Javon Marks throws a wrench into the mix with a far more audacious prediction. Marks posits a potential 1,500% price surge, targeting a price of $0.00139122. This bullish outlook hinges on the idea that LUNC is nearing a breakout phase, fueled by a combination of its recent price gains and historical data. A Balancing Act Of Hype And Reality While Marks’ prediction is certainly enticing, historical trends in the cryptocurrency market are littered with failed “moon shot” predictions. The extreme volatility inherent in the crypto space makes long-term price forecasting notoriously unreliable. Additionally, technical indicators currently lean bearish, suggesting potential short-term price dips. Investors should also consider the ongoing legal battles surrounding the Terra ecosystem, which could cast a shadow on LUNC’s future. Terra Classic Rejects Validator Expansion Proposal Meanwhile, the Terra Luna Classic community has rejected Proposal 12116, which sought to increase the blockchain’s validator set from 100 to 130. This proposal emerged in the wake of a $4.5 billion settlement between Terraform Labs, founder Do Kwon, and the US Securities and Exchange Commission. The aim was to enhance the network’s decentralization by incorporating validators from Terra Luna v2, potentially signaling a move towards unification within the Terra ecosystem. Related Reading: Fact Or Fantasy? Decoding The Bitcoin Rainbow Chart’s $250,000 Prediction However, the proposal did not gain sufficient support in the community’s governance voting. Concerns about integrating Luna v2 validators, the potential impacts on network security and performance, and the desire to maintain a distinct identity for Terra Luna Classic were significant factors in the decision. Featured image from Pexels, chart from TradingView

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