It appears that LooksRare has formed a new support level between $1.30 - $1.50. Assuming that Bitcoin can hold its current support at $38,000 and move upward this weekend or beginning of next week, look for LooksRare to break through the resistance line and make a solid move upward. Keep an eye on the strength of its RSI index when compared to BTC. As indicated...
LooksRare may be the first token to introduce a business model that distributes 100% of its primary revenue source, a 2% market fee, to the token holders that participate in their staking program. Accordingly, we need to adjust the methodology used to determine its value. But how?
First, look at the expected returns that attract investors to the staking mechanism...
We have seen numerous ideas suggesting a BTC Armageddon is coming and who can blame them. There is a huge bearish pennant on the Daily and 4 Hour chart. However, I do not see any indication that panic is about to set in. Instead, I have seen numerous bullish patterns form in the 15, 30, 1-hour, and 2-hour charts within the last week. I think it will all come...
For new tokens like LOOKS, I tend to take a cautious approach when identifying a point of entry. Especially after the beating it has taken recently. As you can see from the chart, the price has moved above the descending channel on the 4 hour chart. To affirm my analysis I also noted the following:
I created a custom indicator that compares the current...
