The LRC price flipped from the descending trend that it ignited at the beginning of the month. And hence with a bullish weekly close, the LRC price may validate an upswing, hitting a 3-digit figure very soon. As the rally appears strong, it may handle the bear’s impact at pivotal levels and eventually end the monthly trade close to INR 100.
Loopring price is currently attempting to break through the descending consolidation. And hence the strength of the rally is pretty strong and also the asset is pretty volatile, therefore a strong upswing may be fast approaching. However, the bears may jump in as the LRC price hits INR 100, which may be a short-lived one.
|Short-Term||The LRC price appears to have reached the end of the bearish trend and hence a strong uptrend may be ignited very soon|
|Mid-Term||The price has undergone a notable upswing and hence the possibility of a minor pullback emerge|
|Long-Term||Loopring may reverse the trend any time from now as the price is all set to stabilize a strong uptrend|
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||68.65 / 52.97||Buy / Neutral|
|MACD(12,26)||0.016 / 0.005||Buy / Buy|
|Average Directional Index(ADX)||41.75 / 43.46||Buy / Buy|
|Bull-Bear Power||0.058 / 0.022||Buy / Buy|
|Moving Average(MA)-50||INR 0.925||INR 0.915|
|Moving Average(MA)-200||INR 0.902||INR 1.35|
|Resistance||INR 90.51||INR 104.09|
|Support||INR 72.65||INR 47.81|
|Average True Range(ATR)||0.016||0.07|
With the fresh bounce, it appears that the LRC price has flipped the bearish divergence with strong bullish momentum. And hence the price is extremely bullish in both the time frames, heading towards the north. However, the asset is highly volatile in STF and hence a drastic variation may be expected.
Additional Read: LRC Price Prediction
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