Loopring (LRC) - May 31hello?
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(LRCUSDT 1W chart)
Below 0.6135 is likely to be a mid- to long-term investment area.
Therefore, the key is whether the price holds the price above 0.6135.
(1D chart)
In the short-term and medium-term perspective, if it gains support above 0.5710, it is expected to turn into an uptrend.
However, since it must rise above 0.6135, it is important to confirm that it is supported by rising above 0.6135.
If it rises above 1.4750, it is expected to surge.
Unlike the stock market, the coin market allows all coins to be made as long-term investments.
However, in order to do this, you must recover the purchase principal and invest only in the amount you hold for the profit.
It's obvious, but it's not an easy way to put it into practice.
If you need immediate profit, it is better to sell 100% to make a profit.
However, if not, I think that if you set your trading method in the direction of increasing your holdings that correspond to your profits, you will have a high chance of getting huge wealth.
This is usually not easy to succeed as it requires a lot of patience.
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator will move accordingly as price and volume move.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
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Looping
LRC trying to find SupportAs you can see a strong treadline has formed on the daily for Loopring dating back to March 15th. This treadline is respected at the time. But, if daddy bitty decides to dump more this treadline will probably be invalidated. The line in the sand for LRC is $1.00 - $1.04. It can even wick down to $0.96 as long as it doesn't close at that level. Closing under $1.00 mark would confirm the treadline is broken and further down is imminent. Theres a lot of good news surrounding LRC and Gamestop right now. Gamestop has announced their NFT Marketplace Beta. I would expect the use of Loopring to increase once The NFT marketplace is officially active in the coming months. LRC is a potential strong buy at these levels. It may go back down to $0.78. But, just like all other cryptocurrencies that may have been bottom and the continuation of the bull market may have already started. From $0.65 to $1.35, LRC has already had 100% gains in the past 3 weeks. A pullback is expected at these levels. May consolidate and test the $1.35 in the coming days or weeks. Hoping for the continuation of the bull market. Gamestop NFT marketplace official release. I can see LRC testing the previous ATHs at $3.90 even breaking the ATH.
First, before we talk about Bull market and new ATH levels. we must get through these FIB retracement levels. It seems LRC hit the .786 ($1.34) level perfectly and tested those levels 2 times getting rejected. We can probably expect for LRC to touch the $0.96 - $1.04 level in the next coming days. If it respect this support tradeline. It may go for its 3rd attempt of breaking the .786 ($1.34). 3rd times a charm, if we break above $1.34 and close above $1.35. We can expect the next level target is $1.89.
Buckle up!, We're either going down hard to $0.70 again or back up to $1.89 again. We must draw a line in the sand at $1.00 for the continuation up.
LRC/BTCDecentralized Exchange
Loopring is not only a protocol but also a decentralized automated execution system that trades across the crypto-token exchanges, shielding users from counterparty risk and reducing the cost of trading. By pooling the liquidity of cryptocurrencies, we are building the financial system of the future.
Buy price 5000-6000 sat
Stop loss 4600 sat
Targets
10000
15000
19500