Crypto analyst Javon Marks has given a bullish forecast for Terra Classic USD (USTC), predicting a potential rise of over 360%. Marks shared that this parabolic run could start this month and could peak in September. His analysis is based on USTC holding a Bullish Divergence and multiple sets of higher lows, signaling a bullish trend.
Marks indicated that with prices still broken out, USTC could hike to $0.08097 and do so at impressive speeds. The relative strength index (RSI) also shows higher lows, suggesting weakening bearish control and an upcoming bullish reversal.
USTC, a decentralized algorithmic stablecoin on Terra blockchain, lost its dollar peg during the LUNA crash in May 2022 but has since seen revival interests due to burns by the Terra Classic community. Though 2.32 billion USTCs have been burned, the stablecoin still has a circulating supply of almost 5.6 billion.
In addition to his USTC forecast, Marks also gave a bullish prediction for Terra Classic (LUNC). He suggests that LUNC could enjoy a minimum 5.7x price rise. The On-Balance-Volume (OBV) indicator shows a bullish divergence, indicating possible diminishing bearish power and impending market domination by bulls. Marks set a price target of $0.00042986 for LUNC, with the potential to rise as high as $0.00139122.