In just the last 31 days, Loopring (LRCBTC) has grown by more than 185%...
Now we ask, is there more growth happening in the future?
Quick answer, YES!
Here is the daily chart first:
Strong bullish momentum building up.
Now, let's take a look at the weekly chart and see what we have for the long-term:...
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- Broken back through support/potential S/R flip
- Bounce off RSI Trendline
- Support breakthrough
- Pullback sitting on strong support
Trying to recover ~900sats level w/ UCTS Buy signal on the 12H timeframe...
Volume still needs to start rising but the potential R/S flip makes it interesting...
If gets traction, then aiming for ~1150 sats level as target (Tight SL just in case!)
We are facing a slight lift off barrier before the moon Exploration begin,when LRC clims above 1006 It will be the beginning of a New era. LRC is likely going to breakout with a strong uptrend after a period of lengthened Accumulation phase, Alts after dumping get into this phase before as a charging zone before a lift off to find a new Resistance.
Here Loopring (LRCBTC) is facing resistance at EMA300 (the grey line at 0.00000564)... This is a "decision point".
If this level can be conquered, prices can jump straight up (green arrow).
But, if instead EMA300 is too strong, prices will retrace (red arrow) before jumping up (blue).
Overall, this is a strongly bullish scenario if you take into consideration...
Looks like it has room until next resistance area . And with that kind of momentum and volume, the next resistance might not be much for it. Tight stop is necessary for this to have the right risk to reward. That said, looks good.