Terra Classic Breakout: Can LUNC Rally 333% to Hit $0.0004295?

Terra Classic (LUNC) has maintained its momentum after breaking out of a 410-day resistance trendline. 

At the time of writing, LUNC was trading at $0.0001009, showing a 3.11% increase in the last 24 hours, while its 7-day performance reflects an 11.07% decline. The token has a market capitalization of $554.48 million and a 24-hour trading volume of $19.72 million, highlighting steady market activity.

Breakout Signals Bullish Momentum

For more than 410 days, LUNC was restricted by a descending resistance trendline, marked by consistent lower highs. This trend was broken with increased trading volume, signaling a reversal in market sentiment. 

Crypto analyst Javon Marks commented on the breakout, stating, 

“With this breakout, the target is at the $0.0004295 level, which means that an over +333% run to reach it could take place.”

Since the breakout, LUNC has held its position above the previous resistance, which now acts as support. This price action reflects strength among buyers. 

However, any failure to maintain this support level could result in a pullback toward lower price zones, requiring close attention to key levels.

Key Technical Indicators and Levels

Technical analysis suggests LUNC is consolidating after the breakout. The Bollinger Bands show low volatility, with the price near $0.00001097, slightly above the lower band at $0.00000963. 

The middle band at $0.00001287 acts as immediate resistance. A break above this level could confirm further upward momentum.

The Average Directional Index (ADX) reads 24.01, indicating weak trend strength. A rise above 25 would suggest a more defined trend. The Relative Strength Index (RSI) is at 38.45, indicating mild bearish sentiment but leaving room for recovery if buying interest grows.

Long-Term Target and Support

Javon Marks estimates that LUNC could achieve a 333% increase, targeting the $0.0004295 level. This target depends on continued bullish momentum and sustained trading above the breakout level. 

Key support is located at $0.00000960, while immediate resistance stands at $0.00001287.

LUNC’s current consolidation phase suggests that the token is gathering strength for a potential upward move. A breakout above resistance could confirm the continuation of the bullish trend, while a breakdown below support may invalidate the setup. 

Traders will closely monitor these levels as LUNC progresses toward its ambitious target.

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