Newer crypto buyers are given a lot of criticism for not looking at token supply or market cap. A coin's market cap is calculated by multiplying its circulating supply by the price. As I just did with CRO, this can help make some comparative market analysis to try and figure out what the "fair value" of something is. This is a concept that exists in other markets,...
On daily chart, Loopring is still accumulating.
We have a target of the final wave at 12.5 and invalidation level at 0.6, of course.
We have a complete wave A at 0.63 in the correction wave ABC.
Wave B is happening, seem it's not finish.
What next, wait and see
With minimal costs and fast speeds, LRC competes in the L2 space as a better version of ETH. GameStop intends to - and is rolling out - their NFT marketplace using Looping which competes for the 39B NFT pie. The AMM Liquidity pools on loopring.io offer .2% trading fee for liquidity providers on all swaps, totaling to around ~17% APR. This is really good for people...
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On 1H TF
Loopring has completed a impulse wave at 1.03
After that, COINBASE:LRCUSD pulled back to 0.89
Right now, LRC has reached 1.2 to complete the third wave.
Besides, it's a invalidation level below 0.88
Wait and see
On 1H TF
Loopring ( BINANCE:LRCUSDT has been retracing after surged to 1.36
Right now, LRC is trading around 0.89 with the invalidation level below 0.835
We have a huge potential to take profit up to 105% at this price because of a golden ratio 1.382 Fib of wave 3 at 1.8
Wait and see
LRC is sitting on a strong trendline. I'm looking for a drop to low 0.80's or 0.70's before accumulating for a possible long position. Time will tell as it is following BTC, ETH, and SPY.
Good luck traders!
Average weighted price is currently 1.50. The current price of is .99 cents. LRC is a fantastic project integrating ZK-Rollups to reduce tremendous transaction costs. It's being picked up by big institutions and the API / back-end is well maintained to support development. Overall, fantastic product and ecosystem. I recommend it.
Big adoption will be by...
This is my TA for Loopring (LRC). I believe this token has the ability to double or triple in market cap in the coming few months. I think the risk to reward makes sense for this trade. Let me know what you think.
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...
On daily chart
COINBASE:LRCUSD has found the support at 0.627, that level is end point of wave A.
Right now, wave B is happening. Wave B might be at 1.9 equal 0.618 Fib of Wave A.
Wait and see.
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Remember, DYOR before you trade plz!
The 50MA seems to be imperative in prices evolution on this weekly chart, price has recently touched it and been bullishly rejected
The orange trendline is dominant and seems to be hodling strong
All MA's are spread this is the best state for likely continuation