Price Analysis

What Comes Next for TerraClassic (LUNC) and TerraUSTC (USTC) Following Significant Gains?

Author: Sahana Vibhute

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A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Highlights
  • Terra Classic price is holding the lower support firmly that indicates the raising momentum of the asset

  • Meanwhile, the popular algorithmic stablecoin TerraUSTC has also been inflating finely and is poised to regain levels beyond $0.1 at the earliest

Terra Classic (LUNC) Price 

Despite a significant upswing, TerraClassic remains in bearish captivity as it consistently fails to reach the pivotal resistance at $0.00033. The platform introduced a 1.2% LUNC burn, which was anticipated to revive a bullish trend, but the bears comfortably restricted the price below $0.0003 even after the burn. However, the asset is yet again attempting to rise and regain its levels, but the slashed volume is hampering the rally at the moment.

Ever since the LUNC price rose above $0.00036, the bears compelled it to trade within a descending parallel channel. However, after the recent rebound, the asset is closer to testing the upper resistance. If the buying volume hinders the price’s progress, then it may face rejection as it did before, or else an upswing may result in a price rise toward the immediate resistance at $0.00033.

TerraUSTC (USTC) Price

In the last few days, TerraUSTC showed a fine upswing, which caused it to soar by more than 120%. However, the bulls appear to have lost their momentum, and as a result, the price has recently experienced a startling 28% pullback. Presently, the price may continue to decline until it reaches the crucial demand area of around $0.043.

Unfortunately, the price of USTC is currently trading inside of a massive rising wedge, which raises the possibility of a significant drop. Price may rise marginally to reach the nearby resistance at $0.06217 as prices are currently attempting to recover from the lower support. If the bulls are unable to push the price higher than these levels, the market could experience a sharp decline that tests the support at about $0.04343.

Prices for TerraClassic(LUNC) and TerraUSTC(USTC) collectively are getting closer to experiencing a noticeable upswing. But over time, USTC might encounter a significant backdrop, while the price of LUNC might test the upper targets.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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