Loopring coin is an ERC20 token running on the Ethereum blockchain. LRC is the governance token for Loopring, a Decentralized Exchange (DEX) protocol with a special type of scaling solution built on Ethereum Layer-2 protocol.
$LRC has a circulating supply of 1.2 Billion $LRC coins and a maximum supply of 1.37 Billion. It has a deflationary nature as 10% of the Loopring fee pool gets burned.
Already listed and tradable on all major cryptocurrency exchanges like Coinbase and Binance, $LRC is a well-established altcoin.
Moving average pattern is bullish. Still uncrossed each other, 200-MA was doing is work as support.
We have an accumulation zone between 2 Fib retracement levels: $0.51 and $0.49. Breaking these levels will do a start of new trend.
Moreover actual price position in the trending channel suggest that we can have space to testing last high zone in 2021 ($0,71 Fib first retracement level).
The momentum indicator (RSI) confirm that we are in the lowest side for the mid term.
Anyway technically price must be above the 50% Fib retracement level to be safe for an uptrend.
I'm Long, still Holding.
⚠️ Disclosure ⚠️ I wrote this article myself, and it expresses my own opinions. Above ideas is for educational purpose only, it is not intended to be investment advice.
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