LRC: Approaching Resistance
Loopring (LRC) technical analysis:
Trade setup: Bullish breakout from Falling Wedge pattern, was confirmed with a break above $0.30 key level to indicate bullish trend reversal. Price broke above $0.40 resistance to resume uptrend and reached our target $0.50. Now we wait for price to either 1) break above $0.50 to resume uptrend, or 2) pull back near $0.40 support for a swing entry in uptrend.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.40 (previous resistance), then $0.30. The nearest Resistance Zone is $0.50.
Trade setup: Bullish breakout from Falling Wedge pattern, was confirmed with a break above $0.30 key level to indicate bullish trend reversal. Price broke above $0.40 resistance to resume uptrend and reached our target $0.50. Now we wait for price to either 1) break above $0.50 to resume uptrend, or 2) pull back near $0.40 support for a swing entry in uptrend.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.40 (previous resistance), then $0.30. The nearest Resistance Zone is $0.50.
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