Is Terra Classic [LUNC] on the verge of a 567% breakout?

LUNC

As a seasoned researcher with years of experience navigating the tumultuous waters of the cryptocurrency market, I find myself intrigued by the current situation surrounding Terra Classic [LUNC]. The technical breakout pattern and on-chain metrics are reminiscent of a coiled spring ready to burst forth, potentially catapulting LUNC prices over 567%.

Terra Classic [LUNC] is showing signs of a massive breakout, attracting the attention of investors.

Based on technical signals and robust blockchain activity, it seems like LUNC could be preparing for a substantial price jump, possibly leading to a rise of approximately 567%.

Despite the ongoing volatility and uncertainty in the wider cryptocurrency sector, LUNC has managed to distinguish itself thanks to some compelling technical trends it’s exhibiting.

Currently, LUNC is being traded at approximately $0.00008326 as of the latest update. This represents a small growth of 0.85% over the past 24 hours.

Analyst Javon Marks recently pointed out a significant breakout in the long-term descending triangle pattern on X’s chart, which is often seen as a sign that a bullish trend could be on the horizon.

After testing again, the Relative Strength Index (RSI) indicates a growing trend. Financial analysts are now aiming for a price point of $0.000593, which represents an increase of more than 567% compared to the present value.

Is Terra Classic [LUNC] on the verge of a 567% breakout?

Is LUNC’s triangle breakout confirmed?

Over the past 150 days, the technical analysis of LUNC showed it had broken free from a long-lasting descending triangle formation, suggesting a potential upward trend.

At the given moment, the underlying support level for the price was approximately $0.00008. On the other hand, the potential resistance point was anticipated to be around $0.00012. Moreover, the Relative Strength Index (RSI) maintained a stable position above 45, which suggests a positive momentum that could potentially lead to an increase in price.

Is Terra Classic [LUNC] on the verge of a 567% breakout?

Rising transaction volume and TVL insights

Data from the blockchain reinforces a positive outlook, as daily trading activity has spiked noticeably. In fact, there’s been a 32.46% jump in transactions over the past day, indicating heightened investor engagement with LUNC.

As a researcher examining the data, I noticed that the Total Value Locked (TVL) currently stands at approximately $2.2 million, significantly lower than its historical peaks. This decrease in TVL might suggest a degree of caution among investors. Nevertheless, the escalating transaction volume indicates a surge of optimism in the short term.

On September 11th, the current funding rate for LUNC in the OI system is holding steady at a favorable 0.0010%.

Based on my years of trading experience, I’ve learned that a consistently positive rate suggests that traders are confident in the market’s upward direction and are even willing to pay funding fees to maintain their long positions. This is a clear indication that they believe the market will continue to rise, despite any short-term fluctuations or uncertainties. In my own trading career, I’ve found that such confidence can lead to profitable opportunities if managed wisely, as it often signals a strong underlying trend in the market. However, it’s always important to remember that past performance is not indicative of future results and to never invest more than you are willing to lose.

Read Terra Classic’s [LUNC] Price Prediction 2024–2025

The positive Funding Rate aligned with the bullish sentiment and reinforced the technical analysis, suggesting further gains.

It appears that technical signs as well as blockchain signals suggest a significant surge could be imminent for LUNC. The coming days are vital to determine if the positive trend can continue.

2024-09-12 13:11

Is LUNC’s triangle breakout confirmed?

Rising transaction volume and TVL insights

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