$LRC LRC/USDT, here is the technical analysis for the next 12 hours:
Key Points from the Chart
1. Current Price: LRC/USDT is at $0.21820.
2. Visible Indicators:
MACD: The histogram is shrinking, indicating weakening bullish momentum. A potential correction or sideways movement could occur.
RSI (6): At 53.48, signaling the price is in a neutral zone.
KDJ: Suggests a possible minor correction as the %K and %D lines are flattening and may intersect.
Volume: Declining, indicating weakening momentum.
OBV: Shows stable distribution.
3. Key Support and Resistance Levels:
Nearest Support: $0.214 - $0.216.
Nearest Resistance: $0.222 - $0.224.
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Entry and Stop Loss Strategy
Entry Buy: Enter around the correction area at $0.215 - $0.217, near the key support level.
Stop Loss (SL): Place it below strong support at $0.211.
Take Profit (TP):
TP1: $0.222 (first resistance).
TP2: $0.228 (if bullish momentum resumes).
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Additional Considerations
If the price breaks $0.224 with significant volume, there’s potential for a rally towards $0.230.
Monitor the RSI: if it moves toward 60-70, a breakout is likely.
If the price falls below $0.211, it could open the door for further bearish trends.