Loopring (LRC) is a L2 blockchain built on Ethereum. It is a protocol to facilitate the construction of Decentralized Exchanges (DEXs).
Prices broke the longterm weekly trendline and was rejected after retesting it.
A proposed short setup with R:R = 2 is in chart.
To see better the price action, here below is a bigger view (on 1W TF)
Comment:
LRC was down, 9% of profit from entry
Comment:
LRC is still slowly bleeding (with low trading volume) with negative and doubtful sentiment of markets. The final target is still on the table but one should book a partial profit (10%) here.
Trade closed manually:
LRC's trade has reached 16% profit.
BTC and the whole market are strong. Better close trade here and wait for a reactivation later.
BTC and the whole market are strong. Better close trade here and wait for a reactivation later.
Trade active:
Trade reactivated
Trade closed manually:
Trade closed because BTC has some early sign to breakout
specially with MFI (to be confirmed)
specially with MFI (to be confirmed)
