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Loopring / TetherUS
Short

Short LRC

By evasivesteering
Updated

Loopring (LRC) is a L2 blockchain built on Ethereum. It is a protocol to facilitate the construction of Decentralized Exchanges (DEXs).

Prices broke the longterm weekly trendline and was rejected after retesting it.

A proposed short setup with R:R = 2 is in chart.

To see better the price action, here below is a bigger view (on 1W TF)

snapshot

Comment
LRC was down, 9% of profit from entry
Comment
LRC is still slowly bleeding (with low trading volume) with negative and doubtful sentiment of markets. The final target is still on the table but one should book a partial profit (10%) here.
Trade closed manually
LRC's trade has reached 16% profit.
BTC and the whole market are strong. Better close trade here and wait for a reactivation later.
Trade active
Trade reactivated
Trade closed manually
Trade closed because BTC has some early sign to breakout
specially with MFI (to be confirmed)

snapshot
RLCTrend Lines
evasivesteering
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