Polkastarter (POLS) and Loopring (LRC) Technical Analysis: Bulls Losing Ground
Table of contents
Polkastarter (POLS)
The launchpad on Polkadot can serve as a pool and also aid in auctions using POLS.
Past Performance of POLS
Polkastarter token prices are under pressure, sliding as per the POLS technical analysis in the daily chart. Mirroring the overall crypto market trend, sellers are unwinding gains of the better part of November 2021.
Day-Ahead and what to Expect
The POLS coin might be bearish when writing, but Polkastarter coin buyers are in control.
Notably, POLSUSDT prices are still within a bullish breakout pattern.
At the same time, there are a series of higher highs clear in the daily chart.
Therefore, POLS token buyers stand a chance as long as POLS prices trade above $3.
Polkastarter Technical Analysis
Polkastarter buyers have the upper hand from a top-down approach as long as prices are above $3.
However, in the short term, POLS coins sellers are in a commanding position, unwinding gains of November.
If sellers step up, adding to losses of early December and the 40 percent drop in POLS' valuation, the next feasible stop will be $2.3, completing a retest.
Loopring (LRC)
The portal's idea is to combine the best of decentralized and centralized exchanges while eliminating inefficiencies using LRC as the primary currency.
Past Performance of LRC
There are a series of lower lows relative to the upper BB signaling weakness for the Loopring token prices.
Even still, the LRC technical analysis of the daily chart indicates resilience.
Day-Ahead and what to Expect
The Loopring coin is up 9X from late October 2021.
This sharp up-thrust cements the LRCUSDT bullish preview. The LRC crypto price is currently within a bull flag, a net positive.
Therefore, for the LRC upswing to be valid, prices must trade above $2 and, ideally, back above the middle BB to reverse recent losses.
Loopring Technical Analysis
Despite weakness in the daily chart, Loopring token buyers are firm.
Inside a pennant, LRC coin buyers are still in control and may load the dips targeting H2 2021 highs at $4.
The only time this pattern will be invalidated is if LRCUSDT prices tank below $3, confirming sellers of early December 2021.
In that case, LRC crypto prices may shrink to $1—the 78.6 percent Fibonacci retracement level of the Q4 2021 trade range.