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Just and Loopring prices appear solid. The bullish engulfing pattern on the LRC/USDT daily chart may see prices race to $0.43. Meanwhile, JST/USDT immediate resistance is at $0.05.
Just (JST)
The Tron-based DEX is the most active in the dPoS powered ecosystem. JST is its primary token.
Past Performance of JST
JST/USDT prices are tracking lower, moving in sync with the general state of the crypto market. However, there were hints of strength on July 14, which might spill over to today.
As of writing, JST prices are stable against the USD, BTC, and ETH following yesterday’s pin bar.
Day-Ahead and what to Expect
The middle BB remains as the primary resistance line. Despite lower lows from a top-down approach, there are gains traced back to late June 2021.
The failure of JST bulls to conclusively confirm these higher highs may present an opportunity for buyers to clip the expected undervaluation correction in the days ahead.
JST/USDT Technical Analysis
July 14 long-lower wick bar could suggest demand in lower time frames.
Accordingly, aggressive JST traders might load on dips taking advantage of the current correction, expecting a close above the middle BB towards $0.05.
Meanwhile, risk-on traders may wait for a solid close above this level before loading up on dips, targeting $0.10.
On the more cautious end, losses below July 14 lows could weigh natively on bulls, probably forcing JST/USDT towards $0.03.
Loopring (LRC)
The Layer-2 platform allows DEX to quickly launch, saving on transaction fees while scaling the Ethereum base layer. LRC is the protocol’s central token.
Past Performance of LRC
Sellers are visibly in control, although this may change after the double bar bullish engulfing pattern of July 14.
As of writing, LRC is one of the top DeFi token performers, adding six percent against the USD.
Day-Ahead and what to Expect
Gains of July 14 could be the basis for a possible rally as LRC/USDT prices bottom-up after losses of May and June 2021.
Technically, LRC prices are trading within a bear breakout pattern after the May 19 price collapse.
However, the relief of July 14, confirming June 27 gains, could draw buyers in the short-to-medium term.
LRC/USDT Technical Analysis
From the daily chart, LRC buyers are in charge in the immediate term from a volumes analysis perspective.
July 14 gains are with high trading volumes confirming June 27 three-bar bullish reversal pattern.
LRC bulls may find loading opportunities as prices are likely to breach the middle BB in a rally towards $0.43.
Unexpected dips below $0.19 cancel bulls’ expectations, yanking LRC/USDT price action to bears.