- Terra Classic may reach $0.000693 by 2025, driven by a bullish breakout from its descending triangle pattern.
- The chart shows a price surge is possible for Terra Classic after a prolonged accumulation phase and rising momentum.
- Analyst Javon Marks expects Terra Classic’s price to surge, with strong momentum pushing LUNC towards its $0.000693 target by early 2025.
Javon Marks shows Terra Classic’s potential breakout targeting a price of $0.000693 by early 2025. He identifies a descending triangle pattern in the asset’s price movements from mid-2022 to late 2023 signaling an impending price surge. This pattern typically signals an impending price surge, positioning Terra Classic for a possible recovery and sustained growth.
Descending Triangle Signals Bullish Reversal
The chart displays LUNC’s price changes, which include a severe decrease after a high price increase. As a result, a descending triangle pattern with several consolidations and recurrent lower highs was created.
Such patterns generally suggest a breakout is imminent, often leading to a price reversal. The asset has now entered a phase of prolonged accumulation. Here, the price remains relatively stable, fluctuating within a tight range. This triangular consolidation period often precedes major upward price action.
Momentum Shifts and Breakout Expected
Additionally, the Relative Strength Index at the bottom of the chart shows lower highs during the consolidation. This indicates weakening momentum. However, as LUNC breaks out of the triangle, the RSI begins to rise, signaling increasing buying pressure. The breakout from the triangle aligns with a sharp upward movement, confirming the market’s change in direction.
The analyst believes this surge could push the price to a target of $0.000693, marking a recovery from the earlier downtrend. As the price rises, the RSI continues to climb, reflecting growing momentum and market confidence. This technical pattern, coupled with rising momentum, suggests that $LUNC could see continued growth well into 2024 and early 2025.
Outlook for Terra Classic in 2024 and Beyond
Hence, Terra Classic’s market momentum seems to be shifting. The breakout points to further upward movement, especially if the buying pressure increases. Marks anticipates that $LUNC will reach the target price of $0.000693 by early 2025. With the current trend, Terra Classic may continue its growth, showing bullish potential in the months.
The post Analyst Marks Predicts Major Recovery for Terra Classic with $0.000693 Target appeared first on Crypto News Land.
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