Crypto News: The Terra Luna Classic (LUNC) community could be up for a price rally, going by the price breakout pattern the token is following lately. Last week, CoinGape reported that Terra Luna Classic core developer Joint L1 Task Force (L1TF) recommended that a community owned wallet be created. It was around the same time that the Terra Classic LUNC price was at its weekly high level. Since then, the cryptocurrency has been on a steady decline. However, analysts expect that there is some room for recovery.
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Overall, the LUNC community may be in for some aggressive price action as the developers work on bringing significant changes to the network. According to crypto experts, the Terra Luna Classic (LUNC) price in the current cycle has the ability to achieve nearly 400% jump, going by the ongoing momentum.
According to Javon Marks on Twitter, the LUNC token’s price breakout is holding currently and that could mean some positive price action. This is based on the price action analyzed over the long term of the last 12 months. Hence, this price rally could likely take several months to realize for LUNC, whereas the cryptocurrency market as a whole is likely to witness a blanket rally ahead of the Bitcoin halving event scheduled for some time during the second quarter of 2024.
“Price breakout is holding, meaning an over 387% run can still be on the way and with the massive increases in momentum currently being displayed, prices can push quickly and perhaps faster than many may be able to comprehend.”
It remains to be seen how long the LUNC price will take to exceed the $0.0001 barrier. The Terra Classic market cap currently stands at $590,761,083, and ranked 83 among top cryptocurrencies. A 4X jump would significantly improve the ranking, if Terra Classic alone sees relative market cap growth.
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