Look at the $LRC chart right now, and I feel bad for those guys who are struggling through losses. The price is dropping headfirst, and the psychology is panicking—but calm down and think: is this the time to panic, or an opportunity for the "whales" to accumulate?
Taking a look at the chart, the situation doesn’t look too promising for the bulls in the short term:
🔹 15-minute timeframe: Price is currently below both the MA(20) at 0.0197 and the EMA(9) at 0.0193. This indicates the selling pressure is still very persistent, with no sign of easing.
🔹 1-hour timeframe: MA(20) is at 0.0198, and EMA(9) is at 0.0197. Both of these lines are acting as tough resistance overhead. As long as price hasn’t broken above the 0.0198 zone, don’t expect any miraculous PUMP.
In practice, $LRC is sitting on an extremely sensitive psychological support area. If the bottom-fishing force isn’t strong enough to push the price back above 0.020, we’re very likely to see another DUMP to sweep liquidity before a real rebound.
My personal setup for this trade is as follows:
📌 Position: I’ll look to SHORT on a retracement that tests the short-term resistance zone.
🎯 Entry: 0.0195 - 0.0197.
🎯 Take Profit (TP): 0.0180 and 0.0175.
🎯 Stop Loss (SL): 0.0205 (If the 1-hour candle closes above this level, I’ll run immediately—no need to say more).
I don’t encourage catching a falling knife while the trend is still plunging, but if you have a cool head, this price zone could offer a few quick scalp trades. If price keeps breaking below 0.018, the scenario gets much worse.
And everyone—how many percentage points are you down on this coin already? Is anyone quietly DCA-ing, or have you "cut the loss" to get out safely?
#Crypto #Trading #Binance
Note: This is my personal perspective, not investment advice. Trading always involves risk (DYOR).
Taking a look at the chart, the situation doesn’t look too promising for the bulls in the short term:
🔹 15-minute timeframe: Price is currently below both the MA(20) at 0.0197 and the EMA(9) at 0.0193. This indicates the selling pressure is still very persistent, with no sign of easing.
🔹 1-hour timeframe: MA(20) is at 0.0198, and EMA(9) is at 0.0197. Both of these lines are acting as tough resistance overhead. As long as price hasn’t broken above the 0.0198 zone, don’t expect any miraculous PUMP.
In practice, $LRC is sitting on an extremely sensitive psychological support area. If the bottom-fishing force isn’t strong enough to push the price back above 0.020, we’re very likely to see another DUMP to sweep liquidity before a real rebound.
My personal setup for this trade is as follows:
📌 Position: I’ll look to SHORT on a retracement that tests the short-term resistance zone.
🎯 Entry: 0.0195 - 0.0197.
🎯 Take Profit (TP): 0.0180 and 0.0175.
🎯 Stop Loss (SL): 0.0205 (If the 1-hour candle closes above this level, I’ll run immediately—no need to say more).
I don’t encourage catching a falling knife while the trend is still plunging, but if you have a cool head, this price zone could offer a few quick scalp trades. If price keeps breaking below 0.018, the scenario gets much worse.
And everyone—how many percentage points are you down on this coin already? Is anyone quietly DCA-ing, or have you "cut the loss" to get out safely?
#Crypto #Trading #Binance
Note: This is my personal perspective, not investment advice. Trading always involves risk (DYOR).