LUNC seems set for a stunning price performance in the coming weeks or months after plunging by over 17% in the past 30 days. The asset is primed for a quadruple-digit rally given a recent sharp breakout from its long-lasting downtrend.
A popular crypto analyst Javon Mark took to Twitter to share a rare bullish price outlook for LUNC, stating that the asset’s price is set to rebound into an uptrend after a prolonged decline that took its price close to the $0.0000163 mark.
Per his chart analysis, the widely followed chartist submitted that LUNC is gearing for a major price breakout that could see its value surge by over 1,444% from its current $0.00008919 level at the time of the analysis.
Should that be the case, Marks implies that there is a huge possibility for the Terra Classic native token to hit $0.00139122 in the coming weeks or months. This target further represents an increase of over 15.3x from LUNC’s price at the time of the update.
He wrote, “One of the greatest runs for LUNC can still be on its way as prices are holding broken out and trend can be implying $0.00139122 to be met and exceeded! A >15.3X can be coming for Terra Classic and it may take many by surprise.”
One of the GREATEST runs for $LUNC can still be on its way as prices are holding BROKEN OUT and trend can be implying $0.00139122 to be met and exceeded!
A >15.3X can be coming for #TerraClassic and it may take many by surprise! https://t.co/jQH52xRVlV pic.twitter.com/1Ce5BglEwt
— JAVON⚡️MARKS (@JavonTM1) May 16, 2023
Whether this prediction will pan out or not is a matter of time and also depends on the general market conditions and developments within the project ecosystem. However, the recent support from Binance regarding the Terra Classic network upgrade has triggered a positive aura in the community.
Accordingly, the largest crypto exchange by trading volume will increase the LUNC burn tax from 0.2% to 0.5% as stated in the recently passed proposal. Notably, the Seychelles-based crypto exchange KuCoin was the first exchange to announce support for the Terra Classic upgrade and tax burn upgrade.
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