As meme coins pause following significant price surges, low-cap altcoins are gaining traction in the market landscape. Amidst this scenario, Terra tokens are displaying a gradual increase in bullish momentum within an upward channel. With Bitcoin facing challenges in maintaining levels below $70,000, the question arises whether altcoins can stage a comeback in the volatile market environment. Analyzing the price charts reveals potential bullish entry points.

Terra Classic (LUNC) Price Recovery and Targets

The LUNC token's price is witnessing a recovery trend, attempting to gain bullish momentum and counter the earlier correction wave. Currently, the Terra Classic token is challenging the bearish 50 and 200 EMA alignment on the daily chart post a recent death cross. The recovery rally shows resilience from the 78.60% Fibonacci level, now testing the 61.80% Fibonacci level. This upward channel signifies an underlying enhancement in the token's performance.

If the broader market continues its recovery, the Terra Classic price trend could aim for the $0.00015 level or the 50% Fibonacci level.

Bullish Momentum in LUNA Price Chart

The LUNA price chart depicts a similar rising channel, indicating heightened demand over the recent week. With a 12% surge in the past two weeks, LUNA hints at a potential robust recovery rally. The bullish trend has crossed the 50-day EMA and is challenging the 23.60% Fibonacci retracement level. Additionally, the RSI indicator reveals bullish movement approaching the overbought threshold. A breakout above these levels could propel the LUNA price towards the $0.00017 level or the 50% Fibonacci retracement level.

In summary, Terra tokens are witnessing bullish momentum, suggesting a potential trend reversal rally in the upcoming weeks. With promising patterns and breakout possibilities, both altcoin prices could target their respective 50% Fibonacci retracement levels.