TronWeekly

Crypto World News

You are here: Home / Archives for USTC

USTC

Terra Classic Soars: Analyst Predicts Massive 279% Upsurge Ahead

by

Terra Classic(USTC) has recently shown a great performance that has attracted the attention of traders and analysts. Javon Marks, a prominent crypto analyst, has shared his insights in a post on X. According to Marks, the price of Terra Classic has displayed a strong rebound and has increased by about 54% after confirming a major bullish divergence.

AD 4nXdS5z UgC9QWNA0DbQa vsJwriUrqZXFmGbCPXxqTYf29LJSs

The analyst believes that Terra Classic can possibly have a higher surge as he mentioned that the goal is to achieve $0.08097 target remains intact. This target is feasible because of a holding breakout, therefore, Terra Classic can surge by over 279% from the current price.

Bullish divergence is a term well understood in the trading world; this is what Marks is talking about. This happens when the price of an asset is moving in the opposite direction of a particular technical indicator. The recent price movements of Terra Classic are not isolated and random but rather signify the beginning of a broader, more prolonged recovery process.

Terra Classic Gains With 54% Surge

After establishing this split, token has shown a lot of strength in the market as investors begin to pile in. This new found confidence is indicated by the 54% increase in its value, with Marks’ forecast of further good performance injecting an element of expectancy into the current market trends.

AD 4nXeymPZsIkQZz3hfBxroaBC391Vnu4vjB0lo46qYXX l6P93t8VOw30GC

Based on the market sentiment analysis and technical indicators, Marks’ projection is positive for the future. Thus, investors should follow the $0.08097 target should be observed more closely, since achievement of this level may open a new chapter in the development of Terra Classic and affect its market position and investors’ portfolios.

As the cryptocurrency market is gradually developing, the possibility of getting high profits makes Terra Classic worth considering. As for whether it would achieve the goal that Marks has set, which is ambitious, only time will tell. Nevertheless, the present signals paint a very positive picture of the future, which is why the situation may be of interest to both investors and traders.

Terra Classic USD (USTC) Climbs 7%, Analyst Predicts 360% Upside Potential

by

Terra Classic USD ($USTC) has be­en experie­ncing a continuous decline since the­ start of the year. From January 1 to the­ present, its value has droppe­d by 51.52%, falling from 0.330 to 0.1660. However, this wee­k has brought a positive shift, with the price climbing ove­r 7% in three consecutive­ days.

Renowned crypto analyst Javon rece­ntly provided an optimistic forecast for Terra Classic USD. Javon note­d a confirmed bullish divergence­ pattern, a technical indicator that often pre­dicts upward price movements. This patte­rn, along with the formation of higher lows, suggests an uptre­nd remains, indicating potential significant gains.

image 30 1
Terra Classic USD (USTC) Climbs 7%, Analyst Predicts 360% Upside Potential 5

The analyst ide­ntifies a breakout target of $0.08097, sugge­sting a possible upside of over 360% from curre­nt levels. The chart shows a se­ries of higher lows, crucial for maintaining upward momentum, indicating that buye­rs are entering at progre­ssively higher prices, a sign of incre­asing demand.

Javon stresses that a price­ breakout has already happene­d, reinforcing the bullish outlook. This anticipated swift bre­akout reflects strong bullish sentime­nt in the market.

USTC Support & Resistance Levels

Howeve­r, potential obstacles exist. Curre­ntly, USTC is at a key support level e­stablished in mid-April 2024. If the daily candle close­s above this level, it could signal a move­ towards resistance leve­ls set by the 50-day and 100-day Exponential Moving Ave­rages (EMAs). If this level of backing is bre­ached, USTC could potentially result in a drop towards the­ subsequent support threshold of $0.012.

USTCUSDT 2024 07 11 17 08 03 1
Terra Classic USD (USTC) Climbs 7%, Analyst Predicts 360% Upside Potential 6

The­ Moving Average Converge­nce Divergence­ (MACD) indicator shows a weak bullish crossover, with the MACD line­ slightly above the signal line. This sugge­sts a possible shift towards the bulls, though the minimal se­paration between the­ lines indicates weak bullish mome­ntum and a potential reversal if se­lling pressure increase­s.

Additionally, the Awesome Oscillator (AO) and Chaikin Mone­y Flow (CMF) indicators currently show bearish sentime­nt. Both momentum and volume indicators suggest more­ selling pressure, with the­ AO below the zero line­ and the CMF negative at -0.08. This combination indicate­s a market dominated by bears, with a pote­ntial slight bullish reversal only if the curre­nt support holds and the daily candlestick closes above­ its current level.

Related Readings | Shiba Inu’s Surge as Whales Collect Over 6T Tokens Amid Market Downfall

Terra Classic (USTC) Surges 300% in Remarkable Rally

by

In a surprising turn of events, Terra Classic (USTC), the algorithmic stablecoin associated with the LUNA ecosystem, has experienced an extraordinary surge, witnessing a staggering 300% increase in its price within a single day. Investors are now grappling with the implications of this sudden spike, contemplating its significance for Terra Classic (LUNC) and the potential revitalization of the broader LUNA ecosystem.

Terra Classic Surges 300% in a Day

The USTC coin, which had previously lost much of its stability following its 2022 collapse as UST, has undergone a notable transformation. Originally pegged to the US dollar, the stablecoin’s deviation led to a series of events that adversely impacted its sister token, LUNA, and contributed to the decline of the Terra-LUNA blockchain ecosystem. Subsequently rebranded as UST Classic, the coin’s value plummeted to as low as $0.01.

Despite the tumultuous events of over a year ago, it appears that both the token and certain members of the LUNA ecosystem are refusing to concede defeat. The recent surge has propelled the USTC token from $0.01569 to $0.0755 within the past 24 hours. Terra Classic Labs (TCL), a community project affiliated with LUNC, is the catalyst behind this remarkable upswing.

Established in October 2023 by members of the once-vibrant LUNA ecosystem, Terra Classic Labs is dedicated to supporting new LUNC projects to revive the Terra ecosystem, as stated on its official website.

A social media announcement from Trader QT, an official partner of Luna Classic Labs, revealed a substantial purchase of approximately 25.6 million USTC for $500,000, at an average price of $0.021 per $USTC. This strategic move significantly boosted USTC, instilling hope that Terra Classic Labs could play a pivotal role in recovering and stabilizing the cryptocurrency.

Despite this surge, USTC is trading at $0.0516, a considerable distance from its former $1 price point. To regain its peg to the US dollar, the stablecoin must register another substantial gain of 1837% from its current value, underscoring the significant challenge ahead.

However, the recent market activity has positively influenced Terra Classic LUNC, which has experienced a 25% spike in the past 24 hours, reaching a trading value of $0.0001004 at the time of writing.

While the Terra Classic community remains steadfast in its support for the cryptocurrency, it’s worth noting that the LUNA ecosystem has rebranded, transitioning from Terra Classic LUNC to a new chain (Terra 2.0) featuring its own native token, LUNA. Interestingly, LUNA has responded favorably to the surge in TerraClassicUSD, displaying a 17.8% increase in the past 24 hours and currently trading at $0.79, as reported by Coinmarketcap.