- The RSI value for the daily LRC token chart has reached the overbought area
- The LRC/BTC pair was trading at 0.0000256 BTC, a 94.56% gain
- The daily trading volume of The LRC token is $5.7 billion, which indicates a 336% hike
The LRC token price provided an excellent long opportunity for crypto traders when the price gave a decisive breakout from the $0.66 neckline of a Cup and handle pattern. The token price managed to provide proper retest to this level and initiated a significant movement in its chart.
Currently, the rally is strongly charging towards the higher levels of this chart, supported by the massive surge in the trading volume. So fas the LRC price has made a New All-Time High of $1.71.
Concerning the EMAs. The price of the LRC token is trading above the critical EMA’s (20, 50, 100, 200), which indicates a strong uptrend in this token.
The RSI value of 93 suggests a strong bullish sentiment within the token. However, it also indicates that the token has reached the overbought zone.
The LRC Token In The 4hr Time Frame Chart
The LRC token price currently indicated a slightly higher price rejection from the $1.71 mark. If the token price rejects from this new ATH level, the crypto trader can mark the Fibonacci retracement levels in their chart, which displays the nearest support level for this token at $1.4(0.236 FIB) followed by $1.04(0.5 FIB). The Current price of the token is $1.54, with intraday gains of 51.54%
Conclusion: from a technical perspective, the LRC token indicates a super bullish trend. However, a shooting star candle at the $1.71 level suggests this token coin may enter into a minor retracement phase. Therefore, the Crypto traders can mark the significant support levels on this chart that could help the price continue its rally.
Support – $1.4
Resistance $1.71