Terra Classic and Terra Luna Price Forecast

Following the recent surge in meme coins' prices and subsequent stabilization, attention is shifting towards low cap altcoins that are now gaining traction in the market. In this evolving landscape, the Terra tokens are showing a steady rise in bullish momentum within an upward channel.

However, the prevailing uncertainty stemming from Bitcoin's struggle to break the $70,000 threshold begs the question of whether altcoins can mount a recovery amidst market volatility. Let's analyze their price charts to pinpoint potential bullish entry opportunities.

Terra Classic's Rising Channel and the Prospects for a Golden Cross

As the recovery trend unfolds, the LUNC price trend is showcasing a bullish attempt to gather momentum and gradually overcome the previous correction wave. Furthermore, the Terra Classic token is currently facing resistance from the bearish alignment of the 50 and 200 EMAs in the daily chart following a recent death cross.

The ongoing recovery rally is rebounding from the 78.60% Fibonacci level and is poised to challenge the 61.80% Fibonacci level. Additionally, the upward channel suggests an intrinsic improvement.

With support from the broader market recovery, the Terra Classic (LUNC) price trend could aim for the $0.00015 level or the 50% Fibonacci level.

Can Luna's Price Surge to $0.00017?

Similar to the Terra Classic chart, the LUNA price chart depicts a similar rising channel as demand experiences a notable uptick over the past week. The altcoin has surged by 12% in a two-week period, hinting at a robust recovery rally.

Moreover, the bullish trend has surpassed the 50-day EMA and is now challenging the 23.60% Fibonacci level. Additionally, the bullish momentum in the RSI line is approaching the overbought region. In the event of a bullish breakout, the uptrend in LUNA's price could target the $0.00017 mark or the 50% Fibonacci level.

In conclusion, the bullish trend in the Terra tokens is gaining traction and suggests a potential reversal in the trend in the coming weeks. With promising bullish patterns and breakout possibilities, the prices of these altcoins may surge towards the highlighted 50% Fibonacci level in their respective charts.