Tron, Loopring, Balancer technical analysis point to bulls after a stellar performance in Q1 2021. BAL/USDT buyers are targeting $100 as TRX tear higher. Price action suggests that TRX/USDT could double to $0.34—2017 highs. Meanwhile, LRC/USDT prices are charting northwards towards $0.90.
Tron launched with a bang back in 2017. It quickly rose to $0.34 before crumbling in 2018—just like every other coin.
However, from Tron price forecasts, traders and the community are pumped. Here’s why: TRX has been charting higher, recouping 50 percent of 2018 lows.
As of Apr 17, the TRX/USD price is changing hands at $0.17, adding 48 percent week-to-date versus the greenback. At the same time, it has scored against ETH and BTC, adding approximately 11 percent on the last day.
Unlike previous rallies—or attempts of higher highs, the TRX price is with relatively high trading volumes adding nine percent on the last day, rising to $8.5 billion.
TRX/USD Price Analysis
From long-term Tron price predictions, buyers are unyielding and upbeat. The same is visible from the daily chart. Gains have been parabolic, and TRX/USD buyers are firmly in the driving seat.
TRX/USD is trading within a bullish breakout pattern after three years of accumulation from the weekly chart.
There has been confirmation of the breakout bar of the week ending Apr 4. Therefore, technically, every low is a loading opportunity for optimistic bulls.
The $0.10—coincides with the Q1 2021 highs, is the primary support. In the immediate term, the $0.15 level—the 1.618 Fibonacci extension level of the Q1 2021 trade range, is the immediate support level and a loading point if prices retrace.
TRX buyers can target $0.22 and $0.33—the 2 and 3.618 Fibonacci extension levels of the Q1 2021 trade range.
Layer-2 solutions are massive. The good news is, Loopring is one of the first DEXes to implement, explaining why long-term Loopring price predictions say LRC prices will touch the moon. Loopring traders expect more price gains, adding to the 21X year-to-date.
As of Apr 17, the LRC price is trading at $0.66, adding 19 percent week-to-date but relatively stable on the last trading day.
At the same time, participation is fluctuating, dropping eight percent to $118 million, which is by all means, decent and liquid enough even for scalpers.
LRC/USDT Price Forecast
LRC trading volumes have been gradually picking up from late Mar 2021. There is more room for growth—and LRC traders to profit from after the double bar bullish reversal pattern of Mar 25 and 26.
Risk-averse traders can wait for a close above $0.70. However, aggressive LRC traders can load the dips now that LRC/USDT prices are within a bullish breakout pattern above Mar 2021 highs after breaching $0.62.
As such, every low—provided trading volumes expand–is a buying opportunity with targets at $0.70 and later $0.90—Q1 2021 highs.
Sharp losses below $0.55 and the middle BB may swing price action in favor of sellers.
DeFi participants always angle for better profits. Balancer has been successful in plowing profits back to BAL holders.
Balancer price forecasts suggest a tear to new 2021 highs in the next few months. Presently, the BAL price is trading at $65 with acceptable liquidity of around $107 million, down 34 percent on the last date.
BAL/USDT Price Prediction
BAL/USDT price action exemplifies the general trend of DeFi.
From the daily chart, the path of least resistance is northward.
BAL prices are trending at around new all-time highs.
Trending inside Apr 14 bull bar, every low is a loading opportunity for BAL traders. The leg up is with high trading volumes, reacting strongly from the main support trend line.
Gains above Apr 15 highs of $75 may spark another lift-off with targets at $100—the 1.618 Fibonacci extension level of the Q1 2021 trade range.
Chart courtesy of Trading View
Disclaimer: Opinions expressed are not investment advice. Do your research.
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