✴️ Loopring | Many Reversal Signals

18 Jan 2023

There are many signals supporting a reversal/change of trend on the Loopring chart. LRCUSDT.

Let's spend a few minutes of our time looking at some of those.

#1 - LRCUSDT has gone to new lows and then dove a bit lower, this is good for bottom fishers.

#2 - A very strong shakeout can be seen on the chart. Shakeouts can be indicative of upcoming change.

#3 - The August downtrend has been broken.

#4 - The Cup pattern we see very often, always at support and many times signals a low being set.

#5 - The increase in trading volume happened in November, recently buy volume is predominant on this chart.

#6 - The RSI is super strong at low levels, signaling that the trend can change soon.

#7 - Loopring is trading above EMA50 and EMA100, not possible to be bearish above these levels.

A change of trend is a major development.
A change of trend can lead to years of growth.

In the worst case scenario, these signals can lead to multiple months of a bullish wave/relief rally... Good in any case.

Namaste.