LRC has been consolidating above the EMA50D for two weeks. On 12H TF, it broke the trendline.
When looking at the LRC/BTC pair (see in comment), price is at long-term support. History shew that, LRC would bounce hard from this support.
Proposed trade setup is as in chart.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
--------- info about LRC --------------
LRC typically refers to Loopring (LRC), a decentralized exchange (DEX) protocol built on the Ethereum blockchain. Loopring aims to facilitate the exchange of digital assets while allowing users to maintain custody of their funds throughout the trading process.
The Loopring protocol enables the creation of decentralized exchanges and is designed to provide scalability, security, and liquidity to the decentralized trading ecosystem. It uses a combination of on-chain and off-chain processes to execute trades, utilizing a concept called zkRollups to batch and settle transactions on the Ethereum blockchain.
Comment:
LRC/BTC pair
Comment:
+14% since entry
Comment:
20% since entry. TP1 hit.
Trade closed manually
