LRC over 32%, driven by speculation about its merger with GameStop and its new listing on the Boerse Stuttgart Digital trading platform.
Intensive Profit Withdrawal Operations: This surge resulted in a net capital flow of $16.56 million within one hour, indicating that large holders are selling the currency during this rise.
Buy Saturation Indicators: Technical indicators suggest a state of buy saturation with an $RSI value close to 70 and a price rejection from its peaks, indicating the upward momentum has run out.
Leveraged liquidation: A sudden drop in the long/short trading ratio indicates a rapid liquidation of leverage, increasing the risk of a significant price correction.
Increased volatility and occurrence of reversal
LRC$LRC has risen by more than 32% but faced sharp rejection from its peak level at $0.0912. The high RSI value (around 70) and a net capital flow of $16.56 million per hour indicate significant profit-taking and a high risk of correction.
Institutional registration fuels the rise
The rise came from positive support from LRC's registration on the Boerse Stuttgart Digital platform for institutional investors, along with speculation about its integration with GameStop NFT, leading to price increases before correction. 🔗
Securitization opportunities on the Binance platform
Despite the absence of active promotional campaigns, users can securitize LRC on the Binance platform. This requires a 90-day freezing period to earn rewards, which is a suitable opportunity for long-term investors to grow their assets.
Cautious outlook
High volatility and strong selling pressure indicate the need for caution.
Watch for potential support near the initial breakout level at around $0.06.
