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Highlights
- Analyst predicts further 270% upward movement in LUNC after 400% rally in last few months.
- Massive bull pennant pattern formation signals target price of $0.00058046.
- Terra Luna Classic community stays afloat on chain developments.
Terra Luna Classic (LUNC) price has recorded 180% gains this year and 400% rally since October last year amid chain developments and support from the world’s largest crypto exchange Binance. An analyst predicts there’s still more than 270% upward movement left in LUNC due to the formation of a bullish pattern.
LUNC Price to Set for 270% Rally
Analyst Javon Marks in a post on the X platform revealed that LUNC price still has further upside movement and the rally has not stopped yet. Terra Luna Classic price is set for more than 270% gains amid the bull market.
He predicts a target price of $0.00058046 as the next bullish breakout to take prices on a monumental run. The price prediction is based on the formation of a massive bull pennant pattern in the long timeline. He expects a breakout coming in mid-April, which coincides with the Bitcoin halving, for LUNC price to move towards the $0.0005 level.
Meanwhile, the next major resistance for LUNC is at 0.0002. LUNC price hit a high of $0.000255 in early March and is expected to hit the mark again amid the bull market. The $0.00015 is a local support.
The futures and spot markets are providing enough support for the further upside momentum amid bull market. The net LUNC and 1000LUNC futures open interests to be at $40 million on average. In the last 4 hours, futures OI has increased by 2%.
Also Read: LUNC News: Terra Classic Community Vows to KYC; 105 Billion LUNC Burned
Terra Luna Classic Developments
The Terra Luna Classic community successfully performance the major upgrade earlier this week. The community believes LUNC price can hit $1 in this bull run, especially after the successful v2.4.2 upgrade. IBC-Hooks will enable the onboarding of dApps on the Terra Luna Classic, with mostly notably Enterprise DAO.
Moreover, Genuine Labs announced progress on the Terra Classic Security Package upgrade. This will boost security, functionality, and interoperability. The developer team planned to complete all developments in 8 weeks.
Meanwhile, LUNC burn campaign has surpassed 105 billion landmark amid massive support from crypto exchanges and projects. The community also working toward utility, clearly evident from the increase in TVL in the next few months.
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