Terra Classic (USTC) is making headlines with Price increase of 17%. Experts and traders are currently focusing on the rapid rise of the currency. People assume that the large positive divergence was the reason for the upward momentum.
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Noted cryptocurrency expert Javon Marks has expressed his bullish view on Terra Classic. Marks recently posted on X expressing his opinion that the token could see a significant upside and gave a price target of $0.08097.
If this bullish prediction comes true, the upside from the current price would be an astonishing 279%. Marks’s prediction suggests that the breakout we have seen in recent market moves makes this target realistic.
Positive difference inspires hope.
Marks’ findings have given the currency renewed hope. Trading circles recognize the presence of bullish divergence. An asset’s price that is in opposition to a technical indicator indicates positive divergence, which often signals further recovery. Terra Classic’s recent price action may be part of a larger pattern that shows a long-term uptrend.
$USTC Terra Classic USD price, after confirming the major bullish divergence, showed great recovery strength, rising by about +54%, but there may be more to come as the target at $0.08097 remains unchanged!
With this target in play due to the hold breakout, it’s a +279% upside from here… https://t.co/BUI6VIOQGU pic.twitter.com/qTHydYy9fY
— Javon⚡️Marx (@JavonTM1) July 20, 2024
Investors responded to this new hope, sending its value soaring. The 54% surge has given the market hope; many are now watching with interest to see if Marks’ predictions come true. Technical indicators and market sentiment research confirm this optimistic outlook by suggesting that the $0.08097 target is within reach.
Terra Classic: Technical Analysis
Continuing the positive vibes, the Terra Classic team has been working hard on significant improvements to the token system. One of the most significant recent innovations is the Tax Distribution Update, which seeks to redirect short-term incentives into long-term rewards through Oracle Split logic. This change is expected to increase the community pool and help the token scale over time.
Announced by well-known developer Till Z, often known as Fragwuerdig in the LUNC community, Latest version v3.1.3 It is the result of teamwork with other developers including StrathCole.
Based on community-approved recommendations 12098 and 12114, these improvements demonstrate the active and interactive nature of the Terra Classic environment. However, the community is optimistic about the benefits these improvements will provide even if there are small delays due to block speed adjustments.
looking forward
Technical analysis, market sentiment, and ongoing ecosystem improvements combined give Terra Classic a bright future. The Fear and Greed Index, currently at 70 (Greed), indicates a bullish market scenario. With a price fluctuation of 9.07%, Terra Classic has shown 16 green days out of 30 over the past 30 days.
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The latest price estimates indicate that Terra Classic is up 9.82% and Reached 0.00009912 by August 212024. This short-term forecast, coupled with the bullish long-term view, suggests that now is a good time to consider Terra Classic.
Terra Classic’s recent performance and bullish outlook have inspired a lot of hope among investors. The coin seems poised for potentially huge gains given the significant technical improvements on offer and the strong market sentiment. While it remains to be seen whether it can achieve the high target of $0.08097, the current signs are certainly promising.
Featured image by Pexels, chart by TradingView
