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 . 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.
(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,… — JAVON⚡️MARKS (@JavonTM1)
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.
USTC Price Forecast
Meanwhile, USTC’s price is 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