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Highlights
- Recent upgrades bolster Terra Classic's appeal to dApps and the Enterprise DAO.
- Overcoming the $0.00017 mark could signal a strong upward momentum.
- Technical indicators suggest a balanced market sentiment poised for a breakout.
Terra Classic price forecast: LUNC has shown remarkable resilience and upward momentum in its market performance in recent months. However, the price of LUNC has recently encountered volatility, marked by a slight downward trend. Currently, Terra Classic price is at $0.0001537, reflecting a decline of over 5% in the last day.
Terra Classic Price Forecast: Eyeing the Next Milestones
The market cap of LUNC now stands impressively at 899 million, establishing its dominance as the #122 cryptocurrency in the market. In the last 24 hours, there has been a significant 37% drop in trading volume, amounting to $67 million, following a small market adjustment.
Since the beginning of March, Terra Classic has witnessed a significant increase in value, boasting a 20% rise over the past month. In the last week, its price fluctuated between $0.00013 and $0.00017, suggesting a bullish trend with a 19% increase despite minor setbacks.
Technological Upgrades Fueling Growth
The cryptocurrency’s recent momentum is largely due to two major updates: implementing the v2.4.2 upgrade and launching new binary components. These changes have greatly improved dApp integration and bolstered the Enterprise DAO’s capabilities, as reported by Genuine Laboratories. The Terra Classic developer team has also advanced with their Security Package upgrade, further enhancing network security and performance.
If bulls make a comeback and manage to break through the $0.00017 resistance level, LUNC might witness a significant upward momentum in its price. This could push the currency towards the major resistance mark of $0.001.
However, If the bullish trend continues to exert pressure, the value of LUNC might drop to its support level of around $0.00015. Persistent bearish trends could push the price even lower, possibly reaching a support level near $0.00013.
The Moving Average Convergence Divergence (MACD) and Chaikin Money Flow (CMF) indicators both hint at an ongoing positive trend despite a recent pullback. The MACD and signal lines remain above the baseline, indicating the bullish trend’s strength, while the CMF shows a positive reading of 0.04, reflecting bullish market sentiment.
The oscillators are currently neutral after a bearish period, suggesting a possible bullish breakthrough, with the Awesome Oscillator (AO) showing a shift from green to red bars, indicating a change from bullish to bearish momentum. The Relative Strength Index (RSI) displays a reading of 48.91, indicating a neutral market.
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