Terra Luna Classic (LUNC) has experienced a notable increase, rising by 180% since the beginning of the year and surging by 400% since last October. This growth is attributed to advancements in the blockchain industry and support from Binance, the world's largest cryptocurrency exchange. Analysts believe LUNC could see further gains of over 270% due to a bullish pattern forming.

Price Projection and Bullish Outlook: According to analyst Javon Marks on the X platform, Terra Luna Classic still has room for upward movement with the rally showing no signs of slowing down. Marks forecasts potential gains exceeding 270% for LUNC amid the current bullish market.

Target Price and Breakout Prediction: Marks anticipates a target price of $0.00058046 for LUNC as the next bullish breakout approaches, potentially triggering a significant price surge. This projection is based on the formation of a large bull pennant pattern in the long term, with expectations of a breakout around mid-April, coinciding with the Bitcoin halving event.

Resistance and Support Levels: The next significant resistance level for LUNC is expected at $0.0002, with the price previously peaking at $0.000255 in early March. A local support level for LUNC is identified at $0.00015.

Market Support and Open Interest: Both futures and spot markets are providing substantial support for further upward momentum in the bullish market. The combined open interests of net LUNC and 1000LUNC futures average around $40 million, indicating a recent 2% increase in futures open interest over the last 4 hours.

Terra Luna Classic Progress and Upgrades

Recently, the Terra Luna Classic community successfully implemented a major upgrade. Following the v2.4.2 upgrade, the community expresses confidence that the price of LUNC can potentially reach $1 during the current bullish period.

The upgrade introduces IBC-Hooks, enabling the integration of decentralized applications (dApps) on the Terra Luna Classic network. This includes the implementation of Enterprise DAO, promising significant advancements in functionality and interoperability.

Genuine Labs has provided updates on the Terra Classic Security Package upgrade, focusing on enhancing security, functionality, and interoperability. The developer team aims to complete all enhancements within 8 weeks to strengthen the network's infrastructure.

The ongoing LUNC burn campaign has exceeded the 105 billion mark, demonstrating substantial backing from cryptocurrency exchanges and projects. The community is actively striving to enhance utility, as indicated by the projected increase in Total Value Locked (TVL) in the upcoming months.

Please note that this article serves to provide information and should not be considered as legal, tax, investment, financial, or any other form of advice.