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Loopring could pause at this point before achieving its final target of $5
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Loopring has seen two massive rallies since the last week of October. Following a 450% surge to $1.9, LRC continued to rake in gains on the back of a bull pennant breakout. Furthermore, LRC had potential for another 135% upswing towards the breakout target set by the pennant’s flagpole.
Post a near-term correction stemming from an overbought RSI and a double top along the Awesome Oscillator, LRC would look to continue its price discovery. At the time of writing, LRC traded at $2.09, up by 36% over the last 24 hours.
Source: LRC/USD, TradingView
Following a bull pennant breakout, LRC had already captured 67% gains but was yet to reach to target at $5, which was set by the flagpole’s length. Now bearish divergences along the RSI combined with a
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