While much of 2024 – barring a brief but significant downturn in January – has been marked by a strong rally in the crypto market, late February and early March have, so far, seen the most dramatic yearly increases in the price of numerous cryptocurrencies.
In the context of the current rally, meme coins have taken the lead in terms of performance, though most investors remain focused on Bitcoin (BTC) as the world’s premier cryptocurrency surged more than $15,000 in about a week and is, at press time, reaching for a new all-time high.
The bull run has also thoroughly affected Terra Classic (LUNC), which has seen a massive surge in the final days of February and the first days of March and has, by the time of publication, risen to approximately $0.00022 – the highest it has been in well over a year if an exceptionally brief spike December is not taken into account.
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Will LUNC sustain the uptrend by the end of the March?
Given the ongoing crypto market rally and LUNC’s latest short-lived surge, Finbold decided to leverage the AI-driven predictive machine learning algorithms of PricePredictions – a platform specialized in forecasting asset prices – to see whether Terra Classic will maintain its bull run or quickly retrace as in December.
The predictive platform appears conservatively bullish when it comes to LUNC, as it foresees a continued uptrend.
The projection, which would see Terra Classic climb to $0.000241 – 9.79% from the press time price – nonetheless signifies a significant break from the current sharp movements of the token.
LUNC technical analysis
While PricePrediction’s projected chart for LUNC appears odd given how the token has historically traded, the overall bullish forecast appears corroborated by the technical analysis (TA) provided on March 5 by TradingView.
Terra Classic’s performance in the last 24 hours, 7 days, and one month all lead to the platform rating the token as an overall “strong buy,” with moving averages assigning the same ranking and oscillators being slightly less bullish with a “buy.”
LUNC price chart
Though LUNC’s future performance remains uncertain, it is undeniable that the token has seen an impressive surge in recent trading. In fact, the bulk of Terra Classic’s 30-day 106.54% rise can be accounted for with its 71.77 % surge in the last 7 days.
The most recent trend also showcases that the bullish momentum is sustained. LUNC is up as much as 26.94% in the latest 24 hours of trading and is, at the time of publication, priced at $0.0002272.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
