Crypto analyst Javon Marks has again provided a bullish narrative for Terra Classic USD (USTC), predicting that the stablecoin could rise by over 360%. In a recent chart shared on X (formerly Twitter), Marks suggested that USTC could begin its dramatic rise sometime this month and peak in September. He explained that USTC is still maintaining a Bullish Divergence and multiple sets of higher lows, indicating the token remains in a bullish environment with a significant upswing on the horizon. According to Marks, this run could propel USTC to $0.08097, potentially unfolding at unprecedented speeds.
As part of his analysis, Marks noted that USTC’s relative strength index (RSI) is still posting higher lows despite the token’s recent price declines, hinting that bearish forces could be waning in favor of a bullish reversal. Marks has previously highlighted USTC’s “major recovery strength,” pointing out a price surge of over 54% following the confirmation of a key Bullish Divergence. His target price of $0.08097 remains steadfast.
USTC is a decentralized and algorithmic stablecoin on the Terra blockchain, which lost its dollar peg during the notorious LUNA crash in May 2022, sinking to an all-time low of $0.006218 in June same year. However, the stablecoin has seen a partial recovery, driven by USTC burns conducted by the Terra Classic community. According to data from LUNC Metrics, 2.32 billion USTCs have been burned since May 2022. Despite this, the stablecoin still has a circulating supply of nearly 5.6 billion USTC and is up by over 150% from its all-time low. Nevertheless, it is uncertain whether USTC will ever regain its dollar peg.
Marks has also given a bullish forecast for Terra Classic (LUNC), suggesting that the crypto token looks “absolutely primed to go” and could experience a minimum 5.7x price increase. In another post on X, he elaborated that LUNC’s price continues to diverge bullishly based on the On-Balance-Volume (OBV) indicator. This, he remarked, could signify that bearish momentum is weakening and bullish forces are preparing to take over the market. Marks added that the price target for LUNC during this parabolic run is $0.00042986, with the potential to rise as high as $0.00139122 during this bull cycle.
The future performance of both USTC and LUNC remains a point of interest, with Marks’ predictions attracting significant attention. As the market fluctuates, observers are keenly watching whether these bullish forecasts will materialize.
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