Basic Attention Token (BAT) and Loopring (LRC) Technical Analysis: Bulls Ahead
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Basic Attention Token (BAT) and Loopring (LRC) Technical Analysis: Bulls Ahead

May 6, 2021      Dalmas Ngetich

Loopring is firm versus USD and ETH. From price action, LRC/USDT may reach $0.90 in upcoming sessions. Meanwhile, BAT/USDT is bottoming up. Bulls are targeting $1.80.

Basic Attention Token (BAT)

Through the Brave Browser, people can now surf the web with full knowledge that there are trackers. At the same time, they can opt-in, watch advertisements, and get paid in BAT.

Past Performance of BAT

The BAT price is trading at $1.35, adding 10 percent on the previous trading day. Technically, the token remains in range mode, oscillating between $1.23 and $1.44 in the past 24 hours.

READ  BAT Technical Analysis: Price Below the First Fibonacci Level of $1.18

BAT’s trading volumes are up 21 percent to $604 million.

Day-Ahead and What to Expect

Overly, BAT/USDT prices retain an uptrend. From the BAT technical analysis in the daily chart, bulls may pick up, moving in tandem with gains of Q1 2021.

However, this is subject to confirmation of the May 4 and 5 double bar bullish reversal patterns in confirmation of bear rejection in the tail-end of Apr 2021.

BAT/USDT Price Analysis

BAT Daily Price Chart for May 6

The BAT prices found support against the greenback from around the 50 percent Fibonacci retracement level of the last four-month trading range. As such, $0.95 will be the primary support and sell trigger.

On the upside, gains above $0.40 and confirmation of May 5 gains would likely spark demand. In this case, the first buy target for BAT/USDT bulls stands at $1.80.

READ  Basic Attention Token (BAT) and 1Inch Exchange (1INCH) Technical Analysis: What to Expect?

Loopring (LRC)

Loopring is one of the first adopters of Ethereum Layer-2. It hosts a wallet and a DEX, primed by the LRC token.

Past Performance of LRC

LRC prices are pinned by bears and are trending under the shadow of sellers inside the leg down from Apr 18.

As of writing on May 6, the LRC price is trading at $0.57, adding nine percent versus the USD and four percent against ETH. With gains and interest in Layer-2, LRC’s trading volumes are up 48 percent to $118 million on the previous trading day.

Day-Ahead and What to Expect

LRC technical analysis favor buyers. After dropping 40 percent from Q1 2021 highs, LRC/USDT prices are bottoming up, building from the reversal of Apr 24 to 26.

Further absorption of May 5 losses may be a reason for aggressive LRC buyers to load on dips. On the other hand, the main buy trigger is at around $0.60—Mar 2021 highs.

READ  BAT Technical Analysis: Price May Fall Below $0.66

LRC/USDT Price Forecast

Loopring Daily Price Chart for May 6

Buyers are in the driving seat, boosted by favorable candlestick arrangements and fundamental events. A close above $0.60 with increasing trading volumes may see LRC race towards Q1 2021 highs of $0.90. On the other hand, unexpected losses below $0.45—Apr 2021 low, may force LRC/USDT to $0.30.

#Basic Attention Token #BAT #BAT/USDT #Loopring #LRC/USDT
Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.