Terra Coins Poised for Bullish Run as Crypto Market Recovers

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Terra Classic (LUNC) and Terra Luna (LUNA), both associated with the Terra blockchain, are experiencing a resurgence amid a recovering cryptocurrency market. This news follows a period of consolidation and a previous sharp decline for both tokens.

Read Also: Terra Classic: Can a Fallen Giant Reclaim its Glory?

Terra Classic (LUNC)

  • LUNC price shows a bullish revival after a significant drop, forming a cup and handle pattern on the daily chart.
  • This pattern suggests a potential breakout toward $0.00021, representing a 60% increase.
  • The recent market recovery, including Bitcoin surpassing $57,000, further bolsters the bullish sentiment.
Source: TradingView

Terra Luna (LUNA)

  • LUNA price mirrors LUNC’s pattern, potentially ending its pullback phase.
  • Following a 55% decline, LUNA has seen an 8% rise in the past four days, indicating a trend reversal.
  • LUNA is poised to surpass a key resistance level, potentially leading to a sharp breakout rally.
  • If the price sustains momentum, it could reach $1, signifying a 45% increase.
  • However, resistance levels at $0.82 and $ 0.92 could pose challenges during the ascent.

Read Also: Eligible XRP Holders To Recieve $EVR Airdrop According To Uphold

Source: TradingView

Overall, both LUNC and LUNA exhibit promising signs of a bullish turnaround, potentially capitalizing on the broader crypto market recovery. However, investors should remain cautious of potential resistance levels and exercise due diligence before making any investment decisions.

 

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Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you're a seasoned investor or just starting out, Cryptolifedigital's analysis offers valuable insights into the world of cryptocurrency.
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