- LUNA’s price breakout signals a potential 558% rally, with $0.0004295 as a key target.
- Strong volume surge after LUNA’s breakout suggests bullish momentum is building.
- LUNA’s recovery faces cautious optimism as it tests crucial resistance levels.
Terra Classic (LUNC) has shown signs of a significant bullish reversal after breaking key resistance levels. Analysts believe the next price target of $0.0004295 could lead to a massive 558% run from current levels.
Bullish Divergences and Volume Surge for LUNC
LUNA’s recent price action has been marked by several bullish divergences and a major breakout, raising expectations of an upward move. The price surged past key resistance zones, indicating a potential shift in market structure.
According to market analyst Javon Marks, LUNA’s breakout above resistance suggests the start of a bullish trend, with a price target of $0.0004295 in sight. Marks highlights that this breakout, combined with the sharp increase in volume, reinforces the case for a strong recovery. His analysis suggests that this could trigger a significant rally for Terra Classic, although caution is warranted as momentum builds gradually.
Source: Javon Marks
Additionally, the price action reflects a broader market shift as buyers gain control after multiple failed attempts to break the downtrend. The volume spike during the breakout suggests that market participants are actively engaging with LUNA, signaling potential accumulation before a further surge.
Potential for Further Recovery Despite Caution
Following the breakout, Terra Classic has entered a recovery phase, with the price maintaining a solid uptrend despite some volatility. Analyst WSB Trader Rocko adds that the current structure suggests a cautious but sustained recovery.
Rocko notes that, while LUNA has broken several resistance levels, price action remains steady without explosive moves. He points out that the 200-day moving average remains a critical resistance level. If LUNA manages to break above this, it could confirm a sustained bullish shift. He also mentions that immediate support now lies at $0.00006500, and failure to hold this level could lead to a retest of lower support zones near $0.00005500.
Source: WSB Trader Rocko
The presence of higher lows and tightening price action indicates that LUNA is in the early stages of recovery. The price needs to maintain momentum and test additional resistance zones to confirm the bullish trend. Rocko emphasizes that the “Bullish above” zone is crucial for the next phase of LUNA’s price action. A decisive break in this zone could signal a broader market shift, but until then, market participants must remain cautious.
This price analysis shows that while Terra Classic is in the early stages of recovery, key resistance levels and market conditions must be closely monitored to gauge the potential for a strong rally.
