LRC/USDT: On key support waiting for bullish reversal

BINANCE:LRCUSDT   Loopring / TetherUS
---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

LRC/USDT: On key support waiting for bullish reversal

- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets LRC (Layer 2) suffered about negative global market situation
- LRC is expected to show some bullish pre-signal soon (looking at 50% area on RSI or divergence)

Market configuration

- Graphical Elements :
Graphical Resistance = 0,7220 & 430
Graphical Support = 0,0710

- Mathematical Indicators:
EMA ( Exp Moving averages) are still capping the market at 0,7220 = Bearish
RSI indicator (below) is below trend line and 50%, bouncing off key support but no divergence = Bearish/Neutral

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target C (B) is set at = 0,3260
Fibonacci resistance of the wave in progress = 0,7220
Fibonacci support of the wave C (B)(max extension) = 0,23
Fibonacci Bullish Target = 1,1220


Preferred case => Regarding the mid-term element, LRC is expecting to do a bullish reversal from the area we are now. However the lack of bullish element from mathematical indicator is still showing a potential last downleg risk to max 0,23 before going up to 0;7220 and 1,1260

Alternative cases => Breaking 0,23 a significant drop will open the door towards close 0,0710 = crash

CIO & Head of market research (Automata -

Up to 200 EUR AKTIO => Referal for AKT.IO app on Apple store and Google play =>

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.