Terra Classic (USTC) made headlines with a Price increase of 17%. Trade and expert attention is currently on the token’s rapid rise. People assume that a significant positive divergence caused the bullish momentum.
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Respected crypto expert Javon Marks has expressed his positive outlook on Terra Classic. Marks recently posted on X expressing his opinion that the token could see a significant upside and estimating a target price of $0.08097.
Should this optimistic projection come to fruition, the increase in the existing price would be a staggering 279%. Marks’ projection indicates that the share growth seen in recent market movements makes this a realistic target.
Positive divergence inspires hope
Marks’ findings have given the coin renewed hope. Bullish divergence is recognized in trading circles. An asset’s price opposing a technical indicator suggests positive divergence, which often signals a new rally. Terra Classic’s recent price action could be part of a broader pattern that shows a long-term uptrend.
$USTC (Terra Classic USD) price, after confirming a key bullish divergence, has shown great recovery strength, rising around +54%, but there could be more to come as the target of $0.08097 remains unchanged!
With this target at stake due to a retention break, over 279% run from here… https://t.co/BUI6VIOQGU pic.twitter.com/qTHydYy9fY
– JAVON⚡️MARKS (@JavonTM1) July 20, 2024
This newfound hope was met with investors flooding into the land, thus boosting its value. The 54% surge has given the market hope; many are now watching closely to see if Marks’ prediction actually comes true. Technical indicators and market sentiment surveys confirm this bullish view, implying that the target of $0.08097 is within reach.
Terra Classic: Technical Analysis
Complementing the good vibes, the Terra Classic team has been diligently working on important improvements to the token ecosystem. The fiscal distribution update, which seeks to redirect short-term incentives towards long-term rewards through Oracle Split logic, is among the most important recent innovations. This modification should increase the community pool and help the token expand over time.
Announced by well-known developer Till Z, also known as Fragwuerdig in the LUNC community, the latest version v3.1.3 is the result of teamwork with other developers, including StrathCole.
Based on recommendations 12098 and 12114 from the community, these improvements demonstrate the active and engaged nature of the Terra Classic environment. However, the community is hopeful that these improvements will provide benefits, even if there are small delays resulting from changes in block speed.
Looking to the future
Technical analysis, market sentiment, and continued ecosystem improvements all combine to give Terra Classic a bright future. Currently in the 70s (Greed), the Fear & Greed Index points to a positive outlook for the market. With a price volatility of 9.07%, Terra Classic has posted 16 out of 30 green days in the past 30 days.
![Terra Classic poised for 280% rally - analyst 2 A c63ecd](https://thegurumedia.com/wp-content/uploads/2024/07/A_c63ecd.png)
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The latest price estimate shows the Terra Classic rising 9.82% and reaching $0.00009912 by August 21st2024. This short-term forecast, coupled with the optimistic long-term view, points to now being an appropriate time to reflect a little on the Terra Classic.
Terra Classic’s recent performance and bullish projections have inspired a lot of hope among investors. The coin looks poised for a potentially large gain, given the considerable technical improvements available and the strong market sentiment. While it remains to be seen whether it will be able to reach the lofty target of $0.08097, the current signs are definitely promising.
Featured image from Pexels, chart from TradingView