According to the Fibonacci Time Zone indicator, today Loopring enters the new cycle, which does indicate that it cold be the time to act now. Price has tested the low at $0.11, where it has rejected the upper trendline of the descending channel.
All-in-all the trend is bearing and it is hard to argue with that. But it could be the very bottom and the end of the decline. If that is the case, LRC/USD is expected to grow exponentially, with the first target at $1, that is x10 gain.
But if the $1 psychological resistance is broken, then next target is at $3 area, that is the previous all-time high. Break above the $3, should send price up to the next psychological resistance area, near $10.
The buying opportunity seems to present itself, and it could be the low risk trade with a x100 profit opportunity in the medium term.
All-in-all the trend is bearing and it is hard to argue with that. But it could be the very bottom and the end of the decline. If that is the case, LRC/USD is expected to grow exponentially, with the first target at $1, that is x10 gain.
But if the $1 psychological resistance is broken, then next target is at $3 area, that is the previous all-time high. Break above the $3, should send price up to the next psychological resistance area, near $10.
The buying opportunity seems to present itself, and it could be the low risk trade with a x100 profit opportunity in the medium term.
📱 Telegram: t.me/tradexcel