Terra Classic

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Terra

The post <a href="https://coinpedia.org/price-analysis/terra-classic-and-terra-luna-price-prediction-is-this-a-comeback-year-for-terra/" rel="noopener noreferrer nofollow">Terra Classic and Terra Luna Price Prediction: Is This A Comeback Year For Terra?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the crypto market on the verge of reclaiming the $2Trillion mark, the buyers are making a comeback for a bullish year. Further, Bitcoin Halving sets a strong recovery tone for the altcoin season, teasing a stronger jump in the coming weeks.&nbsp;
With a bullish turnaround in the broader market, the volatile and infamous coins like Terra Classic and Terra Luna are projecting a healthy recovery phase.&nbsp;
So, will the Terra coins make a comeback this year? Let’s have a closer look.&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>
The Terra Classic (LUNC) price trend shows a deep pullback phase following the drop from the peak of $0.00025. After a 60% drop, the LUNC price shows a bullish turnaround from the 78.60% Fib level.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="464" src="https://image.coinpedia.org/wp-content/uploads/2024/02/16135028/image-115-1024x464.png" alt="" class="wp-image-270374" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/16135028/image-115-1024x464.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135028/image-115-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135028/image-115-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135028/image-115-1536x696.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135028/image-115-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135028/image-115.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source: <a href="https://www.tradingview.com/x/CTG2xxIy/" rel="noopener noreferrer nofollow">TradingView</a>
Moreover, the recovery trend forms a rounding bottom pattern with a neckline at $0.00013, aligning with the 61.80% Fib level. With the recent overnight jump of 10.65% and a 500% rise in trading volume, the breakout chances are astronomical.&nbsp;
The MACD indicator shows a rise in the average lines as it continues to head in the positive realm. Further, the ongoing rally stretches the upper Bollinger band, bolstering the bullish dominance.&nbsp;
As the buyers prepare for a rounding bottom breakout, the LUNC price shows a potential to reach $0.000021, a 60% hike.
<h2 class="wp-block-heading" id="h-is-terra-luna-coming-back-to-1">Is Terra Luna Coming Back To $1?</h2>
With an astonishingly similar chart to Terra Classic, the Terra Luna (LUNA) price trend concludes the pullback era. Regaining the bullish momentum after a 55% drop in market value, the LUNA price is up by 23% in the last 23 days.
With a rounding reversal, the LUNA price is breaking above the 61.80% Fib level, the neckline. This teases a sharp breakout rally, considering the momentum sustains.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="464" src="https://image.coinpedia.org/wp-content/uploads/2024/02/16135032/image-116-1024x464.png" alt="" class="wp-image-270375" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/16135032/image-116-1024x464.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135032/image-116-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135032/image-116-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135032/image-116-1536x696.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135032/image-116-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/16135032/image-116.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 LUNA price trades at $0.7285 following last night’s jump of 5.83%, leading to a bullish engulfing candle. Further, the candle crosses beyond the upper Bollinger Band, reflecting a surge in buying pressure.&nbsp;
Considering the surge manages to sustain the LUNA price above the neckline, the holders can expect a bull run shortly. As per the Fibonacci levels, the Terra Luna price can reach the $1 mark, a 45% jump. However, some key resistance at $0.82 and $0.92 can delay the target.&nbsp;

Terra Classic and Terra Luna Price Prediction: Is This A Comeback Year For Terra?

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