Recently, Terra Classic (LUNC) has experienced a breakthrough in its price, which suggests the possibility of a new price surge. Last week, the media reported that the core development team of Terra Classic, known as the L1 Special Operations Force (L1TF), has recommended creating a community-owned wallet.
During that time, the price of Terra Classic (LUNC) was at a high level on a weekly basis. However, the cryptocurrency has since experienced a continuous decline. Nevertheless, analysts anticipate potential opportunities for a recovery.
The LUNC community may actively participate in price actions as developers strive to bring significant changes to the network. Crypto experts predict that the current cycle may see the price of Terra Luna Classic (LUNC) surging by nearly 400% based on the ongoing growth momentum.
According to Javon Marks on Twitter, the breakthrough price level of LUNC is currently holding strong, suggesting the possibility of positive price actions. This observation is based on analyzing price movements over the past 12 months.
The duration for this price surge to materialize for LUNC may take several months, and it may coincide with the entire cryptocurrency market witnessing a major upswing ahead of the scheduled Bitcoin halving event in Q2 2024.
However, it is still uncertain how long it will take for the price of LUNC to surpass the barrier of 0.0001 USD.
At present, Terra Classic has a market capitalization of 590,761,083 USD and ranks 83rd among the leading cryptocurrencies.