Loopring prediction using trend analysis
Since the last breakout, LRC appears to have entered a sideways trading channel. I would like to point out that recently, it has made multiple attempts at the trend line at the top of the channel.
The place I circled was a surge of price that looks like a false breakout. It did not follow the typical zigzag pattern found in a sideways channel. I believe it is only a matter of time before price breaks above the channel.
I cannot say for sure, but there also may be an ascending triangle forming on smaller time frames
The place I circled was a surge of price that looks like a false breakout. It did not follow the typical zigzag pattern found in a sideways channel. I believe it is only a matter of time before price breaks above the channel.
I cannot say for sure, but there also may be an ascending triangle forming on smaller time frames
Trade closed: target reached
Quite a run! I hope you all scored some profits. I didn't make full profits on this trade because I closed at 7.1k. But still great ROI!If you think LRC has more room to grow, by all means stay in. Personally, I have reallocated my funds to potentially more lucrative swing trades.
#AltSeason
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.