Crypto analyst Javon Marks has recently shared a bullish narrative for Terra Classic (LUNC), a crypto token that could potentially see a massive 13x increase from its current price levels. Based on his analysis, Marks believes that LUNC’s historical pattern could drive a parabolic price surge, making it an attractive investment opportunity for traders.
In a recent post on X (formerly Twitter), Marks noted that LUNC has confirmed a major bullish pattern, signaling a enchaînement of its upward trend towards its first price target of $0.00058046. He also mentioned that this move of over 400% is likely to be achieved as long as LUNC remains above the levels it previously broke hors circuit from.
But Marks didn’t stop there. He went on to suggest that LUNC could potentially make a 1,300% move instead. According to him, LUNC’s previous écarthors circuit and run pattern indicate that it could écart above three targets, leading to a potential price target of $0.00139122.
The crypto analyst has been bullish on LUNC for some time now and has repeatedly stated that it’s not a matter of if, but when, the token will experience a parabolic rally. However, he has not provided a specific timeframe for when this move is expected to occur.
Apart from its historical pattern, LUNC’s fundamentals are also expected to contribute to its upward trend and push its price to such heights. One significant factor is the regular burning of LUNC tokens by the Terra community. Since the burning initiative was implemented in response to Terra LUNA’s crash in 2022, over 113 billion LUNC tokens have been burnt, reducing its circulating supply. This could play a crucial role in driving up demand for the token.
It’s worth noting that LUNC is currently trading well below its all-time high of $119. This suggests that the token has plenty of room to move significantly to the upside, making it an attractive investment option for traders.
In recent developments within the Terra Classic ecosystem, Genuine Labs, a developer group for Terra Classic, has announced that the latest version of SDK 47 is ready and will soon be put up for governance voting. This upgrade will introduce significant changes to the Terra network, including a fix for the dyncomm decorator. It will also handle peer-to-peer (p2p) storms on the network and add new features to the Terrad client, making it easier for developers to connect to the Terra blockchain.
In adjonction, the Terra community has passed a proposal to make Allnodes an official organization for the community. Allnodes will be the go-to source for information on the circulating supply of LUNC, USTC, and other native tokens.
At the time of writing, LUNC is trading at around $0.0001151, up over 2% in the last 24 hours, according to data from CoinMarketCap. With the recent developments and the potential for a parabolic price surge, LUNC is definitely a token to keep an eye on.
In conclusion, crypto analyst Javon Marks’ bullish narrative for Terra Classic (LUNC) has shed light on the potential for a significant increase in the token’s price. With its historical pattern, regular token burns, and recent developments within the Terra ecosystem, LUNC could potentially see a 13x increase from its current price levels, making it an attractive investment opportunity for traders. As always, it’s essential to conduct thorough research and due diligence before making any investment decisions.
