After the mess with TerraUSD, Terra Classic (LUNC) is once again making moves in the cryptocurrency market. Analysts at Coincodex think that the price of LUNC will only go up by 10.7% by July 25th.
This is very different from what crypto expert Javon Marks said, who said it would go up by a huge 1,500%. This comeback makes people wonder if LUNC is about to make a big step forward in the bull market or if it is just going through another rough patch in the world of digital currencies.
LUNC has shown an unexpected level of resilience after being an important part of the collapsed TerraUSD (USTC) stablecoin environment. Even though USTC lost its USD peg in a terrible way, LUNC has recovered and gained investor interest with an 82% price rise in the last 24 hours.
Terra Classic Reflects Market Trends
This strength is similar to a larger market trend: investors are cautiously looking at digital currencies because they are thought to have a strong chance of recovering during times of uncertainty in traditional markets.
Coincodex’s cautiously optimistic prediction means that LUNC may see slow gains. This is in line with how the market is feeling right now, as shown by the “Fear & Greed Index,” which shows that investors are moderately careful.
While Javon Marks is more optimistic and sees a possible rise of 1,500%, their price goal is $0.00139122. Marks says that LUNC’s recent price movement and past results show that a breakout phase is about to start.
But cryptocurrency markets are typically unstable, and even the most optimistic predictions don’t always come true. At the moment, technical indicators are pointing down, which suggests that prices may correct themselves in the short run. Also, continuing legal problems in the Terra ecosystem could make it harder for LUNC to succeed in the future.
In the Terra Luna Classic community, Proposal 12116 was recently turned down. Its goal was to increase the number of validators on the blockchain from 100 to 130. Following a $4.5 billion settlement between Terraform Labs, its founder Do Kwon, and the US Securities and Exchange Commission, this suggestion was made to improve network decentralization by adding validators from Terra Luna v2. The choice shows that the community is worried about safety, performance, and keeping Terra Luna Classic’s unique identity as the ecosystem changes in general.
