LRC, SONIC THE SEQUEL (LOOPRING)
Updated
Here it is!!
Price targets (sell targets) red/light red
Two current trends that are fairly major, which were on the old chart.
Parabolic curve meaning short term movement which can really pull the price in some crazy directions.
However, be careful because I currently can't find a real number over 71 and I more real, 54 or so, which aligns with the trends and creates a nice pullback opportunity to retrace the price down to .2
Here is the thing, on the 4h we have a favorable buy with RSI and a number of indicators. However, on almost every other chart, the buy signal is bullish but overvalued, meaning, things are coming to a conclusion from this runup. The question is, did we see the final impulse to the rejection trend and now we need to head down and confirm support or will we see another impulse up and over trend taking us right to .79 and it can easily melt up higher from there.
A new chart would be needed should we start pushing higher targets, overextending trends and all that fun stuff.
I think there is potential with the coin, but I also think Dogecoin is better as a long term hold, along with ETH and BTC. However, like I said, there are lots of great things to buy but also remember, we just say an over 100% gain in a short period of time, which is A LOT, but not always a lot for crypto due to how fast the market moves since covid.
So what does all of the above mean? Be careful buying this coin because there is downside showing on multiple charts and we are topping out, however, be greedy because there will be up and down movement and chances to make money, exit at profit, limit losses... whatever your trading style is, follow that. Unless you just lose all the time, then try something different haha.
Final
Short term: BEARISH PROJECTION
MID/SHORT TERM: BULLISH
MID TERM: eh, idk, probably bearish
LONG TERM: BEARISH until confirming some price targets on the top side (new) or low side (old)
LONGEST TERM: IF GME, big. IF not, RIP.
Price targets (sell targets) red/light red
Two current trends that are fairly major, which were on the old chart.
Parabolic curve meaning short term movement which can really pull the price in some crazy directions.
However, be careful because I currently can't find a real number over 71 and I more real, 54 or so, which aligns with the trends and creates a nice pullback opportunity to retrace the price down to .2
Here is the thing, on the 4h we have a favorable buy with RSI and a number of indicators. However, on almost every other chart, the buy signal is bullish but overvalued, meaning, things are coming to a conclusion from this runup. The question is, did we see the final impulse to the rejection trend and now we need to head down and confirm support or will we see another impulse up and over trend taking us right to .79 and it can easily melt up higher from there.
A new chart would be needed should we start pushing higher targets, overextending trends and all that fun stuff.
I think there is potential with the coin, but I also think Dogecoin is better as a long term hold, along with ETH and BTC. However, like I said, there are lots of great things to buy but also remember, we just say an over 100% gain in a short period of time, which is A LOT, but not always a lot for crypto due to how fast the market moves since covid.
So what does all of the above mean? Be careful buying this coin because there is downside showing on multiple charts and we are topping out, however, be greedy because there will be up and down movement and chances to make money, exit at profit, limit losses... whatever your trading style is, follow that. Unless you just lose all the time, then try something different haha.
Final
Short term: BEARISH PROJECTION
MID/SHORT TERM: BULLISH
MID TERM: eh, idk, probably bearish
LONG TERM: BEARISH until confirming some price targets on the top side (new) or low side (old)
LONGEST TERM: IF GME, big. IF not, RIP.
Note
A drop to .26 (Maybe a buy target of .2707) and holding would take the price up to potentially as a high as 1.02One thing is for sure, it's close.
Low side is still as low as .1999ish
So do be careful. However, when I get an overall look at the chart, I have a hard time believing anyone buying under .29 would see paper losses for too long of a period of time.
Note
Do we want a zoomed in chart on maybe the 15m or 1h time scale for a midterm movement potential. It isn't totally necessary and you're better off following this chart and being patient, but I know others do trade in smaller time frames. Let me know!Note
about time, thought this move was never gonna happen.Note
UPDATE: NEW CHART NEEDED ASAPprice targets are still good, but the move showing may overextend what I'm showing on this chart, which will be mostly useless should it do so.
Better to say new chart needed before the movement up, rather than use old data.
Again, this data is still good, the move just might be much bigger than originally thought.
But also, doesn't have to be. Don't count on a big movement up. Just be ready should it happen and you can take advantage of the wave.
Note
i still hold the opinion that if you're bullish on this coin, you want to buy into this fear and accept the risk on the potential downside. It's a good level that has been predicted, closes gaps, close some trends out and resets all the levels for a push,Note
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Venmo: @nicktussing
Donations appreciated, NOT AT ALL REQUIRED OR EXPECTED.
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