- Analyst forecasts Terra Classic (LUNC) could rally 260% to $0.000217 based on bullish divergence signals.
- LUNC trading volume exceeded $1.5B as RSI turned overbought and MACD crossed bullish during consolidation.
- Binance wallets control 35% of LUNC supply, making exchange activity a major driver of short-term price moves.
The Terra Classic (LUNC) slightly increased this week, adding 2.6% to be trading at an approximate of $0.0000596 on Tuesday. LUNC is still down over 44% year-to-year, though. Even though the decline has been wider, the new technical data has generated an argument among the market watchers that a sudden breakout may be precipitated in the coming months.
Analyst Projects Strong Upside Potential
Crypto analyst Javon Marks noted on X that LUNC has formed a larger regular bullish divergence. Based on this pattern, he forecasted a possible price move of over 260% to nearly $0.000217. Marks pointed out that momentum indicators are showing higher lows, while price action remains relatively flat. This setup often suggests early signs of a reversal.
Other market signals support parts of his view. The Bollinger Bands on the daily chart show tightening volatility around $0.000060, which may suggest an incoming move. Oscillators such as the MACD and momentum tools are also leaning positive, in line with Marks’ expectations. At the same time, resistance at $0.000062 remains an important threshold, while support has been observed near $0.000058.
Moving averages, however, still give a different reading. Short-term and long-term averages are showing sell signals, suggesting that any possible rally may face hurdles. The mixed signals highlight how LUNC remains in a narrow trading band while traders watch for the next clear direction.
Market Activity and LUNC Price Movement
Recent statistics on the LUNCUSDT pair indicated that there was more activity as the trading sessions ran. The two opened on September 15 at $0.00005812 and had a 24-hour high of $0.00005944. The bottom during this period was at 0.00005776, and the following day the price was at 0.00005944.
The activity in the trading market was very high and the total contracts were over 7.8 billion and the turnover was over 1.5 billion. Trading was the highest after 20: 00 ET, and the volume increased toward the end of the trading. In the final six hours of trade, it rose by 3.8% as a result of new purchasing interest.
This was also the time when technical readings became more active. The RSI trended into the overbought territory and MACD line crossed above its signal line. The Bollinger Bands expanded following a spell of consolidation indicating greater volatility. Traders are now interested in whether the recent move is going to persist or experience some form of a near-term withdrawal.
Concentration of Supply and Market Cap
On-chain data shows that Binance wallets currently hold about 35% of LUNC’s circulating supply. One hot wallet alone is estimated to hold more than 1.8 trillion tokens. This concentration gives the exchange considerable influence over short-term liquidity and market direction. Massive inflows and outflows of these wallets might generate spikes in price.
Terra Classic has a market capitalization of approximately CA$454.94 million even following the recent hitches. A higher market cap often shows that the token continues to have broad market value even during extended declines. Terra itself is a decentralized financial payment network built to support stablecoin transactions, while LUNC serves as a reserve and staking currency for its blockchain validators.
