Issued on: 04th July’23
Valid upto: 10th July’23
Token: LRC
Category: Layer-2 Scaling Solutions
Market Cap: $329 Million
Circulating Supply: 1,331,523,612
Total Supply: 1,373,873,397
Price Update:
LRC price at the time of writing (04th July, 17:00) is $0.2471, with a 24-hour trading volume decreased by 2.73% to $21 million. LRC price is up by 0.93% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Analyzing the above chart:
- LRC has recently formed a double-bottom bullish pattern, accompanied by notable trading volume.
- In the 1-Day time frame, LRC displays a bullish MACD divergence, suggesting a bullish outlook.
- In the 1-Day time frame, 99 EMA(pink) is currently located at the level of $0.2770, while the 200 EMA(blue) is located at $0.3058. These levels can be seen as potential resistance points for LRC.
- The declining BTC dominance & stable BTC price may create a favorable environment for LRC to rise. LRC’s strong and bullish price action suggests potential upward momentum.
- A Long Trading strategy can be assessed between $0.2418-$0.2490 with an invalidation below $0.2289
- On the upside, one can see a rise of 20-25% toward $0.2777 & $0.3058
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: LRC is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade LRC in Futures Market at CoinDCX
LAST TWO WEEKS’ ANALYSIS SUMMARY:
Return % is calculated based on pricing data as available on the platform and is valid for 15 days from the date of publishing.
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