As a seasoned analyst with over two decades of experience in traditional finance and cryptocurrencies, I find Javon Marks’ analysis intriguing, to say the least. His bullish outlook on Terra Classic USD (USTC) and Terra Classic (LUNC) is not only bold but also well-supported by technical indicators.
crypto expert Javon Marks has once more presented an optimistic outlook on Terra Classic USD (USTC), suggesting that the ‘stablecoin’ might surge by approximately 360%. He also specified the potential timeframe for this anticipated dramatic increase.
When USTC Will Rise By Over 360%
As a researcher, I’ve recently come across an intriguing perspective shared in a post on X (previously known as Twitter). Mark proposes that the University of Scarcity Coin (USTC) might initiate its remarkable 360% parabolic climb this month and reach its peak in September. The analyst elucidates that USTC continues to exhibit a Bullish Divergence and numerous instances of higher lows, suggesting that the token is still thriving in a bullish market, with a potential 360% recovery phase approaching.
Marks stated that if prices continue to rise, USTC could potentially reach $0.08097 at an astonishing pace. In his assessment, he pointed out that even though USTC’s price has dropped, its relative strength index (RSI) is still forming higher bottoms, indicating that bears might be losing their grip and a bullish turnaround may be imminent.
Marks had noted in an earlier analysis how USTC showed “major recovery strength” as it recorded a price move of over 54% after confirming a key Bullish Divergence. He affirmed that a higher price rally was still in play as his $0.08097 price target remained unchanged.
USTC is a type of digital currency known as a decentralized and algorithmic stablecoin that operates on the Terra blockchain. In May 2022, during the significant LUNA crash, USTC temporarily lost its connection to the US dollar‘s value, dropping down to $0.006218 in June 2022 – a record low for this stablecoin. However, since then, the recovery of USTC has been noticeable due to the burn events conducted by the Terra Classic community.
According to LUNC Metrics, approximately 2.32 billion USTC tokens have been destroyed since May 2022, leaving a current circulating supply of nearly 5.6 billion USTC. This burn event has contributed to an over 150% increase in the price of USTC from its record low. However, whether or not USTC will manage to restore its peg to the US dollar remains uncertain.
Bullish Prediction For LUNC
Marks has recently expressed a positive outlook for Terra Classic (LUNC). He believes that the crypto token is poised for significant growth, stating it’s “shaping up beautifully” and anticipates a potential increase of at least 5.7 times its current price. In a separate post, he noted that LUNC’s price trajectory, as indicated by the On-Balance-Volume (OBV) indicator, remains bullish.
He remarked that this could be a sign that the bears are losing power and that the bulls are getting ready to dominate the market again. He added that the price target for LUNC as it makes this parabolic run is $0.00042986. Marks had previously claimed that LUNC could rise to as high as $0.00139122 in this bull run.
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2024-08-12 18:40