Javon Marks forecasts a 555% LUNC surge to $0.0004295 if a bullish pattern confirms, driven by breakout signals and past momentum.
Terra Classic (LUNC) is again garnering attention due to recent technical analysis that indicates a potential breakout. A crypto analyst anticipates that the confirmation of a key pattern could result in a 555% increase in the value of LUNC.
An analyst discloses the potential catalyst for a 555% LUNC breakout
Javon Marks, a crypto analyst, recently discussed the formation of a bullish structure on the LUNC price chart in a post on X. According to Marks, LUNC has recently emerged from a significant consolidation pattern and is currently substantiating bullish signals in both price divergences and volume trends.
He emphasized that this reversal could incite a climb of over 555% to $0.0004295, and he also noted that previous setups indicate that the move could occur quicker than many anticipate.
Marks had previously predicted an even more significant potential increase of approximately 590%, emphasizing the technical setup of the token that is distinct from that of numerous altcoins presently available on the market.
However, despite the renewed optimism, not all individuals are convinced that a breach is imminent. Another analyst has expressed apprehension regarding the sluggish movement of LUNC compared to other altcoins that have recently experienced an increase in value.
Nevertheless, Terra Classic’s advocates remain optimistic. This week, the token experienced a 10% increase in value, and its current price is approximately 10% below its three-year high. Many individuals perceive this price point as an opportunity to purchase additional items.
LUNC’s Burn and Stake Trends influence sentiment
LUNC continues to be one of the most deflationary cryptocurrencies in circulation. Token burning has exceeded 365 million weekly, resulting in over 413 billion burned tokens. Token fires directly reduce supply, which can assist in maintaining the price during periods of increased demand.
Nevertheless, staking metrics provide a more intricate narrative. According to recent data, the Terra Classic network’s LUNC stake has fallen below 1 trillion due to the elimination of approximately 15 billion tokens from staking in a week. According to observers, the primary cause of this sudden decline may be the large whale wallets, rather than the tiny retail holders.
The estimated total supply of LUNC is approximately 6.49 trillion, which emphasizes that even substantial fires and staking changes are evaluated in relation to an immense circulating base.
Additionally, its favorable fundamentals are bolstered by the robust community governance. A recent sentiment poll conducted regarding a proposal to implement USTC staking yielded a majority of “YES” responses, including backing from Vegas Node, the network’s second-largest validator.
Vegas Node clarified that this is a preliminary indicator of community interest. A comprehensive technical roadmap will be provided upon acceptance. The overarching objective is to establish USTC staking as the initial stage toward the token’s long-debated “repeg,” which has the potential to unlock new utility and engagement on the chain.