Loopring #LRC is currently trading at $0.1175, showing a significant 24-hour gain of +24.34%. This surge has pushed the price above the upper Bollinger Band (BOLL(20, 2) UP: 0.1281), suggesting potential overbought conditions in the short term.
Looking at the daily chart, #LRCUSDT has experienced a notable uptrend, breaking through previous resistance levels. The 24-hour high reached $0.1258, with a trading volume of 248.94M #LRC (equivalent to 27.68M USDT).
While the recent price action is bullish, traders should be mindful of the overextended nature indicated by the Bollinger Bands and consider potential pullbacks. Keep an eye on volume and broader market sentiment for confirmation of this trend.
#LRC Potential Trade Plan
Key Levels: Watch $0.12-$0.13 (support/resistance) and $0.18, $0.34 (targets).
Bullish: Break above $0.13 with volume could target $0.18, then $0.34. Holding $0.12 support after a dip is also bullish.
Bearish: Rejection at $0.18 or break below $0.12 could lead to further downside.
Action:
* Long: Consider entry above $0.13 (stop below $0.12).
* Short: Consider entry at $0.18 rejection (stop above $0.19).
Always use stop-loss orders and manage risk. Do your own research. Crypto is volatile!
Buy and future trade start here
