Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase
26 Juin 2024 - 3:00PM
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
Optimism (COIN:OPUSD)
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De Mai 2024 à Juin 2024
Optimism (COIN:OPUSD)
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De Juin 2023 à Juin 2024