After its second rejection from this level All-Time High $3.82, the LRC price action formed a double bottom pattern in the daily time frame chart. However, on December 4th, the token warned about intense demand pressure below the $2.17 neckline the lower rejection in the daily candle, which eventually led to a fakeout.
Key technical points:
The 20 EMA dynamic support is flipped to a potential resistance
The daily RSI line shows a steady downtrend, approaching the oversold territory
The intraday trading volume in the LRC token is $1.05 Billion, indicating a 184% gain.
Source- LRC/USD chart by Tradingview
The LRC token displayed a remarkable rally in November, which made a New All-Time High of $3.82. Later the token price entered a minor retracement phase, indicating this level as a possible resistance level.
The LRC price managed to bounce back from this 0.5 Fibonacci retracement in order to continue the bull rally. However, the price could never exceed $3.82, triggering another bear
We współpracy z: https://coingape.com/looping-price-analysis-can-lrc-bulls-leverage-from-this-bear-trap/
