Greed

Filecoin

Optimism

Terra

Higher

USTC has shown notable price movements of late. From an abrupt drop earlier in the year to an optimistic current return, both experts and investors find appeal in the digital asset. 
USTC plummeted more than 51% from $0.330 at the start of the year, to $0.1660. This huge drop made people wonder what the future holds for buyers in the stablecoin. But this week, market data showed that things got better: the price of USTC went up by more than 10%. This good news has given people new hope that the asset might be able to come back to life and renewed their excitement. 
<img loading="lazy" decoding="async" class="wp-image-629476 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/A_9b967d.png?resize=684%2C321" alt="" width="684" height="321" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/A_9b967d.png?resize=684%2C321?w=684 684w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_9b967d.png?resize=684%2C321?w=460 460w" sizes="(max-width: 684px) 100vw, 684px" data-recalc-dims="1"> 
<h2 id="strong-crypto-analyst-s-breakthrough-prognosis-strong">Crypto Analyst’s Breakthrough Prognosis</h2> 
Noting a confirmed bullish divergence pattern, renowned crypto specialist Javon Marks gave USTC some <a href="https://publish.twitter.com/?query=https%3A%2F%2Ftwitter.com%2FJavonTM1%2Fstatus%2F1811181665928052856&amp;widget=Tweet" target="_blank" rel="noopener nofollow">positive words</a>. He projects a likely upside of more than 360% with a breakout target of $0.08097. From the current levels, USTC could show a big comeback and provide good returns to those who have survived the past crisis. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/search?q=%24USTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$USTC</a> (Terra Classic USD) has confirmed a bullish divergence pattern while maintaining a major set of Higher Lows that can suggest an uptrend to still be in-tact and a more than 360% upside from here! 
 With prices already being broken out and $0.08097 as the breakout target,… <a href="https://t.co/qhghFWXNbm" rel="nofollow">https://t.co/qhghFWXNbm</a> <a href="https://t.co/yFpQ2pmJDT" rel="nofollow">pic.twitter.com/yFpQ2pmJDT</a> 
 — JAVON<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1811181665928052856?ref_src=twsrc%5Etfw" rel="nofollow">July 10, 2024</a>
</blockquote> 
<h2 id="strong-technical-views-strong">Technical Views</h2> 
The creation of higher lows on the price chart indicates that buyers are entering the market at prices that are gradually increasing. This means that demand is growing, which may indicate that the uptrend will continue. Another piece of evidence that supports the positive prognosis for USTC is this technical insight. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-629454" src="https://www.newsbtc.com/wp-content/uploads/2024/07/A_51a682.png?resize=1024%2C620" alt="" width="1024" height="620" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/A_51a682.png?resize=1024%2C620?w=1444 1444w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_51a682.png?resize=1024%2C620?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_51a682.png?resize=1024%2C620?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_51a682.png?resize=1024%2C620?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_51a682.png?resize=1024%2C620?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_51a682.png?resize=1024%2C620?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
USTC is seen to encounter critical support and resistance levels that could potentially impact its future trajectory, despite the optimistic technical patterns. As of mid-April 2024, USTC is currently circling a critical support level.&nbsp; 
<img loading="lazy" decoding="async" src="https://www.tradingview.com/x/u6Kkx13t/" alt="" width="2475" height="1163"> 
In&nbsp; another development, Binance gave the Terra Luna Classic community some support for their <a href="https://www.coingecko.com/en/coins/terra-luna-classic" target="_blank" rel="noopener nofollow">LUNC</a> burn effort meant to cut supply. A post by Binance community associate Diana generated discussion in the community by implying that the plan is also part of the USTC resurrection strategy. Popular community member Mr. Diamondhandz1 added to this narrative that Binance is helping with the USTC rebirth in addition to their monthly LUNC burning. 
In almost half of the entire 126 billion tokens burnt by the community, over 62 billion LUNC have been decimated by Binance. The community is depending on Terraform Labs to burn USTC in their wallets while the USTC repeg strategy is yet to be finalized. Former Binance big boss Changpeng Zhao recently disclosed that the exchange invested $3 million in Terra but has not sold or relocated its LUNC assets. 
As a result, LUNC’s price climbed by more than 1% to $0.00007192; it fell short of the $0.000072 threshold. The 22% drop in the 24-hour trading volume suggested lower trader enthusiasm. Likewise, USTC’s price increased 0.50% to $0.01608; market uncertainty caused a 41% decrease in trading activity over the past 24 hours. 
<img loading="lazy" decoding="async" class="wp-image-629458 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/A_b8727f.png?resize=1009%2C272" alt="" width="1009" height="272" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/A_b8727f.png?resize=1009%2C272?w=1009 1009w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_b8727f.png?resize=1009%2C272?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_b8727f.png?resize=1009%2C272?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_b8727f.png?resize=1009%2C272?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/A_b8727f.png?resize=1009%2C272?w=750 750w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> USTC Price Forecast 
Meanwhile, USTC’s price is <a href="https://coincodex.com/crypto/terraclassicusd/price-prediction/" target="_blank" rel="noopener nofollow">predicted to rise by about 8%</a> by August 10, 2024, reaching $0.0172. This prognosis shows a likely upward advance based on various technical signs even with the current negative outlook. At 29, the Fear &amp; Greed Index currently captures market concern. Apart from a 9.84% price volatility, USTC observed fourteen green days in the last thirty days. 
Featured image from BTCC, chart from TradingView

Analyst Upbeat On USTC, Sees Price Soaring Over 300%

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