- LUNC trades at $0.00007021, above upper Bollinger Band, with rising volume and breakout signals suggesting bullish momentum.
- Analyst targets at $0.0004295 and $0.00044259 signal a possible 6.5 times upside, following multi month consolidation breakout.
- Immediate support is at $0.00006259; failure to hold breakout levels or declining volume could lead to a pullback.
On May 10, at the time of publication, Terra Classic (LUNC) was trading at $0.00007021 after a 4.62% daily gain. This move comes as technical signals begin to align with recent breakout activity.
Volume continues to rise sharply, currently at 7.78 billion, adding weight to the developing trend. Notably, the price is above the upper Bollinger Band, a move often linked to growing bullish momentum.
Analyst Javon Marks has observed similar patterns, pointing to earlier breakouts and projecting a potential 500% increase. According to Marks, the breakout target is at $0.0004295, with an extended target at $0.00044259.
Breakout Confirmation After Months of Consolidation
The rally follows a multi month consolidation phase that saw price action pinned below descending resistance. A breakout occurred between late October and early November 2023.
This lifted LUNC from a long term downtrend, confirmed by a break of the descending trendline. Following the breakout, the price surged from $0.000058 to roughly $0.00028 before facing retracement.
Volume during this period spiked, supporting the breakout’s validity. Another breakout was recorded in March 2024, this time in volume. This rise in volume broke a long standing downtrend. This breakout confirmed renewed interest from the market.
Since then, the price has been forming higher lows, while short term resistance remains near $0.00028. Support is steady around $0.000055 to $0.00006. Analysts point to these levels as markers in the unfolding trend structure.
Short Term Indicators Support Rising Momentum
Recent price behavior shows a clear shift in short term momentum. Bollinger Bands indicate expansion, with price trading above the upper band at $0.00006853.
The middle band, at $0.00006259, now acts as immediate support. A continued close above this level would keep bullish conditions intact. However, a pullback could revisit the lower band at $0.00005664.
Additionally, the MVRV Z-Score has reached 29.37. While this level suggests elevated market valuation, it has coincided with breakout phases before. However, a decline in volume or failure to hold above breakout levels could prompt caution.
Analyst Forecasts and Price Outlook for May 2025
According to CoinCodex, short term predictions show limited downside. A 6 month outlook places LUNC at $0.000103, consistent with a bullish scenario. Marks projects a target of $0.0004295, while another potential level appears at $0.00044259.
These represent a 6.5 times upside from current prices. On the downside, immediate support is at $0.00006259, with deeper support near $0.00005664 if bearish pressure returns.
