Cryptocurrency expert Javon Marks has predicted a notable increase in the price of Terra Classic (LUNC), foreseeing a climb to $0.00139, marking a remarkable 1,134% surge. This positive outlook is based on the identification of a strong bullish technical pattern in LUNC's price movement. Marks pointed out that despite this projected price rise, it remains below the previous peak of $0.00005922 reached in 2022.

Factors Driving the Bullish Forecast for LUNC

Starting from October 2023, LUNC has displayed a clear bullish trend, bouncing back from a low of $0.00005506, the lowest point since June 2022. This recovery coincided with a partial rally in the wider cryptocurrency market in the last quarter of 2023, acting as a catalyst for the upward trajectory of LUNC's price.

Significance of Technical Indicators

A key technical signal supporting the optimistic forecast is the upward trend line visible in LUNC's chart, characterized by a series of higher lows. This pattern indicates a potential for sustained upward movement. Marks emphasized the importance of this trend line in influencing the expected price direction.

Key Points for Investors to Note

Close monitoring of the trend line is crucial for ensuring continued growth.

Initial target: $0.00058046, reflecting a 414% increase from current levels.

Historical data suggest a possible surge to $0.00098584 and potentially $0.001391.

Critical support level: $0.00010747; significant resistance level: $0.00011498.

Maintaining levels above these thresholds is vital for the short-term price momentum.

For the bullish forecasts to materialize, LUNC must uphold the support level at $0.00010747. Furthermore, surpassing the resistance at $0.00011498 is essential to sustain the upward trend and move closer to the projected price targets.