Terra Classic Price Forecast: How Could Critical Bid Approval Shape the 2024 Bull Run?

Terra Classic The community is starting fresh with the acceptance of an offer that will allow those who want to start a new business to make an initial deposit. With this move, the network believes it will reduce the threat of spam offers. Following the development, the price of Terra Classic increased by 2% to $0.0001221 on Friday. This reflects the trust of the community and investors. This move highlights Terra Classic’s advancement and commitment to the ecosystem. It also shows promise for the future success of the platform.

Initial Deposit Offers Surpass Terra Classic Price Rebounds

Offer 12071 requires 1 million LUNC to be deposited before new offers can be launched. The community voted 89% “yes”, 9% “no” and only 1% “no with veto”.

Over the last few months, the network has taken steps to develop the project by accepting significant proposals, including staking and a significant token burn program.

This move has been welcomed, allowing the community to focus on more thoughtful and meticulously prepared proposals. Once the initial deposit is made, proposal writers will have to match 5 million deposits to eligible participants in a governance vote. This aims to promote a more balanced management of the project.

Technical Outlook as LUNC Price Rising Again

Terra Classic price gathered liquidity around $0.000118 during the mid-week volatility. This represents a green band supported by the 200-day Exponential Moving Average (EMA).

Supported by the community, the price of Terra Classic increased and gained acceptance above the broken ascending trend line support (currently resistance). However, the resistance level at $0.0001236, the confluence connecting the 20-day EMA and the 50-day EMA, set the limits for the upside.

terra classic

Holding above the green support band allows the bulls for LUNC to take control and initiate an upward attack. As the price moves above the trend line and clears the red resistance level at $0.00014, more investors are expected to join this uptrend.

During the rally in the fourth quarter of last year, the Terra Classic price rose to $0.00028, highlighting the importance of developments in the ecosystem during this period.

Developers and the community are keeping the project’s outlook on the rise, coming together to improve network efficiency, aiming to return LUNC and USTC to their former glory.

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