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Crypto analyst Javon Marks has again provided a bullish narrative for Terra Classic USD (USTC). This time, the analyst predicted that the stablecoin could rise by over 360% and revealed when this parabolic run would happen. When USTC Will Rise By Over 360% In a chart shared in an X (formerly Twitter) post, Marks suggested that USTC could begin its 360% parabolic run sometime this month and peak in September. The analyst explained that USTC is still holding a Bullish Divergence and multiple sets of higher lows, indicating that the token is still in a bullish environment, with a 360% recovery run on the horizon. Related Reading: Celsius Takes Legal Action Against Tether In $2.4 Bitcoin Collateral Controversy Marks added that with prices still broken out, this run could lead to USTC rising to $0.08097 and that it ” may take place at unimaginable speeds. As part of his analysis, Marks showed that USTCs relative strength index (RSI) is still hitting higher lows despite the tokens price decline, suggesting that bears may be losing their control with a bullish reversal on the horizon. Marks had noted in an earlier analysis how USTC showed major recovery strength as it recorded a price move of over 54% after confirming a key Bullish Divergence. He affirmed that a higher price rally was still in play as his $0.08097 price target remained unchanged. USTC is a decentralized and algorithmic stablecoin on the Terra blockchain. It lost its dollar peg during the infamous LUNA crash in May 2022 and dropped to an all-time low of $0.006218 in June 2022. However, since then, the stablecoin has experienced some sort of revival thanks to the USTC burns carried out by the Terra Classic community. Data from LUNC Metrics shows that 2.32 billion USTCs have been burned since May 2022, although the stablecoin still has a circulating supply of almost 5.6 billion USTC. Thanks to this, USTC is up by over 150% from its all-time low. However, it remains to be seen if the stablecoin will ever regain its dollar peg. Bullish Prediction For LUNC Marks also recently provided a bullish prediction for Terra Classic (LUNC). He stated that LUNC is starting to look absolutely primed to go and that the crypto token could enjoy a minimum 5.7x price gain. In another X post, he explained that LUNCs price continues to diverge bullishly based on the On-Balance-Volume (OBV) indicator. Related Reading: Bitcoin Death Cross Threatens To Trigger Crash If Price Does Not Hold $62,000 He remarked that this could be a sign that the bears are losing power and that the bulls are getting ready to dominate the market again. He added that the price target for LUNC as it makes this parabolic run is $0.00042986. Marks had previously claimed that LUNC could rise to as high as $0.00139122 in this bull run. Featured image created with Dall.E, chart from Tradingview.com
Terra Classic (USTC) has made headlines with a 17% price increase. Trading and expert attention is currently on the token’s quick ascent. People assume a significant positive divergence caused the bullish momentum. Related Reading: Polkadot (DOT) Poised For Rally? Analyst Predicts $9.00 Breakout Respected crypto expert Javon Marks has shown his positive view of Terra Classic. Marks posted recently on X expressing his opinion that the token may see a significant rise and estimating a target price of $0.08097. Should this optimistic projection materialize, the rise from the existing price would be astounding279%. Marks’ projection indicates that the holding breakthrough seen in the recent market movements makes this aim realistic. Positive Divergence Inspires Hope Marks’ findings have given the coin renewed hope. Trading circles recognize bullish divergence. An asset’s price opposing a technical indicator suggests positive divergence, which often signals a further rebound. Terra Classic’s recent price movements may be part of a larger pattern that shows a long-term uptrend. $USTC (Terra Classic USD)’s price, after confirming a key Bullish Divergence, showed major recovery strength, climbing roughly +54%, but there can be more coming as the $0.08097 target goes unchanged! With this target in play due to a holding breakout, an over 279% run from here https://t.co/BUI6VIOQGU pic.twitter.com/qTHydYy9fY JAVONMARKS (@JavonTM1) July 20, 2024 This fresh hope has been reacted to by investors flooding into Terra, therefore increasing its worth. The 54% increase has given the market hope; many people are now keenly observing to see whether Marks’ forecast does happen. Technical indicators and market mood research confirm this optimistic view by implying that the $0.08097 objective is within reach. Terra Classic: Technical Analysis Complementing the good vibe, the Terra Classic team has been diligently working on important token ecosystem enhancements. The tax distribution update, which seeks to redirect short-term incentives to long-term rewards via the Oracle Split logic, is among the most important recent innovations. This modification is supposed to increase the community pool and help the token expand over time. Announced by well-known developer Till Z, often known as Fragwuerdig in the LUNC community, the latest release v3.1.3 is the result of teamwork with other developers including StrathCole. Based on recommendations 12098 and 12114 passed by the community, these improvements show the active and involved character of the Terra Classic environment. The community is nevertheless hopeful about the advantages these improvements will offer even if small delays resulting from block speed modifications exist. Looking Ahead Technical analysis, market mood, and continuous ecosystem improvements taken together give Terra Classic a bright future. Currently at 70 (Greed), the Fear & Greed Index points to a positive market scenario. With a price volatility of 9.07%, Terra Classic has shown 16 out of 30 green days during the last 30 days. Related Reading: ORDI Soars 26% On Solid 7-Day Run Can It Climb Higher This Week? The most recent price estimate has Terra Classic rising by 9.82% and reaching $0.00009912 by August 21, 2024. This short-term prediction together with the longer-term optimistic view point to now as a suitable moment to give Terra Classic some thought. The latest performance of Terra Classic and optimistic projections have inspired a good amount of investor hope. The coin seems ready for a possibly large gain given considerable technical improvements on hand and strong market mood. Though it remains to be seen if it can meet the lofty $0.08097 aim, the present signs are definitely promising. Featured image from Pexels, chart from TradingView
Terra Classic(USTC) has recently shown a great performance that has attracted the attention of traders and analysts. Javon Marks, a prominent crypto analyst, has shared his insights in a post on X. According to Marks, the price of Terra Classic has displayed a strong rebound and has increased by about 54% after confirming a major […]
USTC has shown notable price movements of late. From an abrupt drop earlier in the year to an optimistic current return, both experts and investors find appeal in the digital asset. Related Reading: Filecoin Boom Incoming? Market Optimism Fuels Cryptos Next Breakout Star USTC plummeted more than 51% from $0.330 at the start of the year, to $0.1660. This huge drop made people wonder what the future holds for buyers in the stablecoin. But this week, market data showed that things got better: the price of USTC went up by more than 10%. This good news has given people new hope that the asset might be able to come back to life and renewed their excitement. Crypto Analyst’s Breakthrough Prognosis Noting a confirmed bullish divergence pattern, renowned crypto specialist Javon Marks gave USTC some positive words. He projects a likely upside of more than 360% with a breakout target of $0.08097. From the current levels, USTC could show a big comeback and provide good returns to those who have survived the past crisis. $USTC (Terra Classic USD) has confirmed a bullish divergence pattern while maintaining a major set of Higher Lows that can suggest an uptrend to still be in-tact and a more than 360% upside from here! With prices already being broken out and $0.08097 as the breakout target, https://t.co/qhghFWXNbm pic.twitter.com/yFpQ2pmJDT JAVONMARKS (@JavonTM1) July 10, 2024 Technical Views The creation of higher lows on the price chart indicates that buyers are entering the market at prices that are gradually increasing. This means that demand is growing, which may indicate that the uptrend will continue. Another piece of evidence that supports the positive prognosis for USTC is this technical insight. USTC is seen to encounter critical support and resistance levels that could potentially impact its future trajectory, despite the optimistic technical patterns. As of mid-April 2024, USTC is currently circling a critical support level. In another development, Binance gave the Terra Luna Classic community some support for their LUNC burn effort meant to cut supply. A post by Binance community associate Diana generated discussion in the community by implying that the plan is also part of the USTC resurrection strategy. Popular community member Mr. Diamondhandz1 added to this narrative that Binance is helping with the USTC rebirth in addition to their monthly LUNC burning. Related Reading: Solana Frenzy: Big Buyers Fueling Rally On Top Crypto Exchanges In almost half of the entire 126 billion tokens burnt by the community, over 62 billion LUNC have been decimated by Binance. The community is depending on Terraform Labs to burn USTC in their wallets while the USTC repeg strategy is yet to be finalized. Former Binance big boss Changpeng Zhao recently disclosed that the exchange invested $3 million in Terra but has not sold or relocated its LUNC assets. As a result, LUNC’s price climbed by more than 1% to $0.00007192; it fell short of the $0.000072 threshold. The 22% drop in the 24-hour trading volume suggested lower trader enthusiasm. Likewise, USTC’s price increased 0.50% to $0.01608; market uncertainty caused a 41% decrease in trading activity over the past 24 hours. USTC Price Forecast Meanwhile, USTC’s price is predicted to rise by about 8% by August 10, 2024, reaching $0.0172. This prognosis shows a likely upward advance based on various technical signs even with the current negative outlook. At 29, the Fear & Greed Index currently captures market concern. Apart from a 9.84% price volatility, USTC observed fourteen green days in the last thirty days. Featured image from BTCC, chart from TradingView
Terra Classic USD ($USTC) has been experiencing a continuous decline since the start of the year. From January 1 to the present, its value has dropped by 51.52%, falling from 0.330 to 0.1660. However, this week has brought a positive shift, with the price climbing over 7% in three consecutive days. Renowned crypto analyst Javon […]
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Former Terra Classic (LUNC) L1 Team developer Tobias “Zaradar” Andersen recently disclosed that he would be available if needed by the L1JTF. In a recent conversation, Tobias “Zaradar” Andersen, the former Terra Classic (LUNC) L1 Team developer, expressed his willingness to lend a helping hand to the L1JTF if the need arises, despite his controversial […]
The post Zaradar Confirms He Will be Available if Needed by the Terra Classic (LUNC) L1 Team first appeared on The Crypto Basic.
In one of the most catastrophic events to ever hit the crypto industry, the prominent algorithmic stablecoin TerraClassicUSD (USTC) – formerly UST – became depegged from the US dollar around a year ago. As a result, the Terra ecosystem crumbled, leading to uncontrolled minting and supply of Terra Classic (LUNC) tokens. However, in the latest [...]
The post USTC: Will Proposal To Re-Peg Stablecoin Push LUNC To $1? appeared first on Crypto Breaking News.
Trader Javon Marks points out what can happen if the Terra Luna Classic’s ongoing momentum is maintained.
Trust issues emerge in an already divided community as the USTC repeg crusade continues.
The chief inspector of the CSTCB warned that the metaverse is no safer than the traditional internet, saying that "all crimes in the cyberspace could also happen in the metaverse."
Terra Classic community wants back the 800 million USTC once sent to Ozone Protocol by Do Kwon.
While the co-founder of Terraform Labs has been sentenced to four months in jail in Montenegro, a team of six anonymous developers have been attempting to revive the Terra Classic ecosystem after its collapse in May 2022. The six programmers, known as the “Six Samurai,” wholeheartedly believe that luna classic (LUNC) has “limitless upside potential.” [...]
The post Six Samurai: Anonymous Developers Seek to Revive Terra Classic Ecosystem appeared first on Crypto Breaking News.
A fresh & innovative proposal to repeg USTC received praise among LUNC community, but how likely is it really?
The Lunatic Logic, chronicled by Terra Rebels developer, receives mixed reaction from the Terra Classic community.
LUNC community tests USTC repeg: key ideas to be put in practice.
OG dev spills out a theory that aligns well with the U.S. Securities and Exchange Commission’s complaint.
The Terra Classic (LUNC) L1 team plans to create a test environment to ascertain the conditions of the USTC depeg and simulate a potential re-peg event. The L1 Joint Task Force (L1JTF) seeks to create a test environment to explore the various ideas aimed at facilitating the USTC re-peg. LuncBurnArmy (LBA), the project manager of […]
The post Terra Classic (LUNC) L1 Team Working to Bring USTC to $1 first appeared on The Crypto Basic.
By community decision, 0.5% of the native Terra Classic token will be sent to infernal regions.
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