Cream Finance (CREAM) and Loopring (LRC) Technical Analysis: Bears Slowing Down Bulls

Cream Finance (CREAM)

The protocol is blockchain agnostic, offering lending services to users in Ethereum, the Binance Smart Chain (BSC), Fantom, and Polygon.

CREAM is the platform's governance token.

Past Performance of CREAM

CREAM crypto buyers rejected sellers on August 18, as the Cream Finance technical analysis reveals.

$185 is the immediate support level that bulls must maintain if CREAM token prices are trending higher.

As of August 18, CREAM is stable versus the greenback with decent trading volumes.

Day-Ahead and What to Expect

There is a bearish engulfing double bar bear reversal pattern in the daily chart.

$185 must sustain buyers to validate the uptrend.

Persistent losses below $185 would slow down buyers. On the flip side, gains above last week's highs would reinvigorate demand, possibly driving CREAM coin to $380.

Cream Finance Technical Analysis

CREAM bulls are in control at spot rates.

From the candlestick arrangement in the daily chart, CREAM could surge higher if $220 is cleared.

It is a possibility that may encourage aggressive CREAM buyers to double down at spot rates.

Even so, sharp losses below $180 could quickly spark a sell-off towards $140—or lower in subsequent sessions.

Loopring (LRC)

The protocol is accessible in Ethereum and NEO blockchain. It is a platform for launching DEXes centered on LRC governance token.

Past Performance of LRC

The token is trading within a bullish breakout pattern above the middle BB.

However, there are hints of weakness following the rejection of higher highs early this week.

At the time of writing, LRC is relatively stable against the USD and firm in an uptrend despite minor losses.

Day-Ahead and What to Expect

There is a double bar bear reversal pattern, an indicator of weakness.

Nonetheless, the uptrend is still valid. LRC token mirrors the double bar bullish reversal pattern of late June 2021.

As long LRC/USDT prices are above the middle BB, the immediate buy target stands at $0.43.

Loopring Technical Analysis

Loopring crypto bulls are in control.

Despite the rejection of higher highs, LRC/USDT prices are in a bullish breakout pattern.

The immediate target for aggressive Loopring token buyers is $0.43.

Losses below the middle BB and $0.30 nullify the uptrend, potentially forcing a meltdown towards $0.19.