Top analyst predicts over 300% surge for Terra Classic (LUNC) as breakout price continues to hold; skeptics raise questions about feasibility.
Amid Terra Classic (LUNC) ’s abysmal performance over the past week, well-known crypto chart analyst Javon Marks believes the asset is about to experience an over 300% surge in price.
In a recent tweet, Marks made daring predictions about the LUNC price movement. He pointed out that the price breakout for LUNC is showing resilience. According to him, the breakout indicates that the token might be on the verge of an astonishing increase of over 387%.
Price breakout is holding, meaning an OVER 387% RUN can still be on the way and with the MASSIVE INCREASES in MOMENTUM currently being displayed, prices can push QUICKLY and perhaps faster than many may be able to comprehend… https://t.co/iPMsC8okom pic.twitter.com/FJeOjWCLFr
— JAVON⚡️MARKS (@JavonTM1) July 27, 2023
Marks argued that the current momentum displayed in the market is of massive proportions. He suggested that prices could surge at a pace that may be difficult for many to comprehend.
LUNC Least Price Increase at 369%
The crypto analyst shared a market, substantiating his stance on the situation. Marks quoted a previous tweet where he pointed out that LUNC was utilizing a significant support level, showing signs of momentum back on the rise.
The prospects of this price surge are so impressive that Marks believes the least price increase could be around 369%. However, he also hinted that similar setups had indicated even higher potential gains.
Meanwhile, not everyone appears to share the same optimism about the situation. In response to Marks’ tweet, someone questioned the legitimacy of the predictions. He suggested that calling for a 388% increase ‘out of thin air’ seems improbable, especially considering the supply chain of nearly 6 trillion LUNC tokens.
While LUNC circulating supply is relatively large, it is worth mentioning that the Terra Classic community has taken proactive measures to destroy most of the tokens. As The Crypto Basic reported, top LUNC validators have pledged to continuously burn their commission.
According to data from CoinMarketCap, Terra Classic’s price is $0.00008171, with a 24-hour trading volume of $18,598,880. Over the last seven days, the token has experienced a significant decline of 8.34%.