A trading opportunity to buy in LRCETHTechnical analysis:
. LOOPRING/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 53.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00044300 to 0.00038850). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00044300)
Ending of entry zone (0.00038850)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00056080
TP2= @ 0.00063120
TP3= @ 0.00081630
TP4= @ 0.00096570
TP5= @ 0.00111550
TP6= @ 0.00132780
TP7= @ 0.00159920
TP8= Free
