As 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.
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.