Is terra luna Classic (LUNC) Price Rise to $0.00058 Still Valid?
A jury ruled in favor of the US Securities and Exchange Commission (SEC) in the US civil case, finding Terraform Labs and Do Kwon liable for fraud. However, Terraform and executives are disappointed with the decision and are considering options and next steps, believing that the SEC does not even have the legal authority to file this lawsuit.
As a result of the lawsuit, traders are considering whether the LUNC price can still rise after falling near the support level of over 2%.
Terra Luna Classic Target Price $0.00058
Analyst Javon Marks revealed that LUNC price still has an upside move as it forms a bullish pattern. He predicted that the Terra Luna Classic price would rise more than 270% in the bull market.
He predicted that the target price in the bull run would be $0.00058. He believes that the next bullish breakout will send prices on a monumental rise due to the formation of a bullish pennant formation on the long time chart. A breakout is awaited in mid-April, coinciding with the Bitcoin halving, for LUNC price to move towards the $0.0005 level.
LUNC faces the next major resistance at the psychological $0.0002 level. LUNC price reached $0.000255 in early March and the community expects a retest of this level in the bull market. $0.000125 remains a major support.
Terra Luna Classic (LUNC) price is currently trading above the support level at $0.000132. The 24-hour low and high are $0.0001319 and $0.0001372 respectively.
Additionally, open interest in the LUNC and 1000LUNC futures has been increasing over the past few hours, indicating an improvement in price. Futures OI increased by 2% in the last 4 hours. Futures and spot traders will provide ample support for further upside momentum during a broader crypto market recovery.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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