$LRC Volatile Surge on Sunset News! 🌀🚀
Loopring (
$LRC ) is flashing extreme volatility on the 1h chart, currently trading at $0.0370 (+11.45%). After news broke that the Loopring Wallet will cease operations by June 2025, the price reacted with a massive "God Candle" to $0.0389 before cooling off. All EMAs (7/25/99) have been violently reclaimed, but the structure remains high-risk.
Execution Zone (Long/Scalp): $0.0355 – $0.0370
Target I: $0.0389 (24h High)
Target II: $0.0410
Target III: $0.0440+ (Volatility Extension)
Invalidation: $0.0345 (Below EMA99) 🛑
The technicals are screaming "caution." While the price is above the EMA ribbon, the RSI(6) is at a blistering 93.65, indicating the asset is severely overbought. This typically leads to a sharp "mean reversion" or a retest of the $0.0350 (EMA7) support. Only enter on high-volume confirmation above $0.0375 to avoid catching a local top.
#LRC #Loopring #DeFi #CryptoTrading #Binance