Terra Classic

Bitcoin

Terra

The post <a href="https://coinpedia.org/price-analysis/breakout-alert-terra-classic-and-terra-luna-prep-for-bull-run/" rel="noopener noreferrer nofollow">Breakout Alert: Terra Classic and Terra Luna Prep For Bull Run</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
As the altcoin season warms up with the crypto market crossing the $2Trillion mark, the Terra coins are ready for a comeback. Following the recent bounce back, the Terra tokens underwent a consolidation phase and are now preparing a new bull run.&nbsp;
Infamous for quick bullish relapses, the tokens project a bullish turnaround with a high momentum breakout spree. So, with the Terra coins at a pivotal stage, let’s have a closer look at their price charts.&nbsp;
<h2 class="wp-block-heading" id="h-will-terra-classic-bounce-back-for-a-breakout">Will Terra Classic Bounce Back For A Breakout?</h2>
Following a deep pullback phase, the Terra Classic (LUNC) price trend shows a bullish revival in the daily chart. After a 60% drop, the Terra Classic price shows a bullish turnaround from the 78.60% Fib level to create a cup and handle pattern.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2024/02/27131137/image-221-1024x481.png" alt="" class="wp-image-273251" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/27131137/image-221-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131137/image-221-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131137/image-221-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131137/image-221-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131137/image-221-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131137/image-221.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source: <a href="https://www.tradingview.com/x/YJT3sBpi/" rel="noopener noreferrer nofollow">TradingView</a>
Further, the recovery trend projects a neckline at $0.00013, aligning with the 61.80% Fib level. On a positive note, the recent handle formation increases the breakout possibility.&nbsp;
Even with the market-wide recovery as the Bitcoin price crosses the $57,000 mark, the bulls seem unstoppable. As the buyers prepare for a cup and handle pattern breakout, the Terra Classic price shows a potential to reach $0.000021, a 60% hike.
<h2 class="wp-block-heading" id="h-amidst-recovery-luna-eyes-1">Amidst Recovery, Luna Eyes $1&nbsp;</h2>
Mirroring the chart pattern of LUNC closely, the price trend of Terra Luna (LUNA) marks the end of its pullback phase. After experiencing a significant 55% decrease in market value, LUNA’s price has seen a resurgence, climbing 8% over the past four days, signaling a trend reversal.&nbsp;
Amidst the reversal momentum, the Terra LUNA price is poised to surpass the 61.80% Fibonacci retracement level, acting as the neckline. This hints at a potential sharp breakout rally, provided the momentum continues to hold.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2024/02/27131542/image-223-1024x481.png" alt="" class="wp-image-273253" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/27131542/image-223-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131542/image-223-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131542/image-223-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131542/image-223-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131542/image-223-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/27131542/image-223.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source: <a href="https://www.tradingview.com/x/NaJI5UPW/" rel="noopener noreferrer nofollow">TradingView</a>
Currently, the Terra LUNA price trades at $0.7029 with an intraday jump of 1.85%, leading to a bullish engulfing candle. Further, the candle is ready to cross the neckline, reflecting a surge in buying pressure.&nbsp;
If the LUNA price maintains its position above the neckline, investors can anticipate an upcoming bull run. According to Fibonacci levels, the Terra Luna price could ascend to the $1 threshold, marking a 45% increase.&nbsp;
Nonetheless, notable resistance levels at $0.82 and $0.92 may pose challenges en route to achieving this target.

Breakout Alert: Terra Classic and Terra Luna Prep For Bull Run

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