Analyst Upbeat On USTC, Sees Price Soaring Over 300%
12 Julio 2024 - 3:56AM
NEWSBTC
USTC has shown notable price movements of late. From an abrupt drop
earlier in the year to an optimistic current return, both experts
and investors find appeal in the digital asset. Related Reading:
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Breakout Star USTC plummeted more than 51% from $0.330 at the start
of the year, to $0.1660. This huge drop made people wonder what the
future holds for buyers in the stablecoin. But this week, market
data showed that things got better: the price of USTC went up by
more than 10%. This good news has given people new hope that the
asset might be able to come back to life and renewed their
excitement. Crypto Analyst’s Breakthrough Prognosis Noting a
confirmed bullish divergence pattern, renowned crypto specialist
Javon Marks gave USTC some positive words. He projects a likely
upside of more than 360% with a breakout target of $0.08097. From
the current levels, USTC could show a big comeback and provide good
returns to those who have survived the past crisis. $USTC (Terra
Classic USD) has confirmed a bullish divergence pattern while
maintaining a major set of Higher Lows that can suggest an uptrend
to still be in-tact and a more than 360% upside from here! With
prices already being broken out and $0.08097 as the breakout
target,… https://t.co/qhghFWXNbm pic.twitter.com/yFpQ2pmJDT —
JAVON⚡️MARKS (@JavonTM1) July 10, 2024 Technical Views The creation
of higher lows on the price chart indicates that buyers are
entering the market at prices that are gradually increasing. This
means that demand is growing, which may indicate that the uptrend
will continue. Another piece of evidence that supports the positive
prognosis for USTC is this technical insight. USTC is seen to
encounter critical support and resistance levels that could
potentially impact its future trajectory, despite the optimistic
technical patterns. As of mid-April 2024, USTC is currently
circling a critical support level. In another
development, Binance gave the Terra Luna Classic community some
support for their LUNC burn effort meant to cut supply. A post by
Binance community associate Diana generated discussion in the
community by implying that the plan is also part of the USTC
resurrection strategy. Popular community member Mr. Diamondhandz1
added to this narrative that Binance is helping with the USTC
rebirth in addition to their monthly LUNC burning. Related Reading:
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almost half of the entire 126 billion tokens burnt by the
community, over 62 billion LUNC have been decimated by Binance. The
community is depending on Terraform Labs to burn USTC in their
wallets while the USTC repeg strategy is yet to be finalized.
Former Binance big boss Changpeng Zhao recently disclosed that the
exchange invested $3 million in Terra but has not sold or relocated
its LUNC assets. As a result, LUNC’s price climbed by more than 1%
to $0.00007192; it fell short of the $0.000072 threshold. The 22%
drop in the 24-hour trading volume suggested lower trader
enthusiasm. Likewise, USTC’s price increased 0.50% to $0.01608;
market uncertainty caused a 41% decrease in trading activity over
the past 24 hours. USTC Price Forecast Meanwhile, USTC’s price is
predicted to rise by about 8% by August 10, 2024, reaching $0.0172.
This prognosis shows a likely upward advance based on various
technical signs even with the current negative outlook. At 29, the
Fear & Greed Index currently captures market concern. Apart
from a 9.84% price volatility, USTC observed fourteen green days in
the last thirty days. Featured image from BTCC, chart from
TradingView
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