✴️ Terra Classic Multiple Bullish Scenarios + Long-Term Targets

11. Feb.

Looking back to 2022 we can see how a bullish breakout found support in August of that year.
The Aug. 2022 support leads to one more up-leg, three consecutive weeks green.

We have a similar situation starting late 2023.
A strong bullish breakout happens with the correction finding support at the exact same level support was found back in 2022. It is a big range but the median price sits at 0.00009984 which matches the Fib. retracement level for the Oct.-Dec. 2023 bullish wave.

This week LUNCUSDT moved above EMA10 and EMA50 with the weekly session closing in less than 18 hours. Once the week closes above these levels a strong bullish signal is confirmed and the scenario depicted on the main chart above can develop.

The Cryptocurrency market is unforgiving, a different scenario can be something like this:

Another drop, a lower low compared to 22-January before the next bullish wave.

Regardless of what happens in the short-term, we are bullish long-term.

Namaste.