In this Loopring technical analysis, we will examine the current price action, trading volume, key levels and indicators for LRC-BTC. Loopring is a decentralized exchange (DEX) built on Ethereum that enables users to trade various assets in a trustless and permissionless manner. It utilizes ring-based technology to facilitate high liquidity and low slippage, making it an attractive option for traders seeking a secure and efficient cryptocurrency exchange experience. Additionally, Loopring’s non-custodial approach ensures that users maintain full control over their assets at all times, providing peace of mind in an increasingly volatile market.
Loopring Price Overview:
As of December 05, 2023, Loopring is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for LRC-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 1,070,232.00 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Loopring reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for LRC-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Loopring is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.34% |
| 3D Change (%) | -4.84% |
| 7D Change (%) | -3.68% |
| 30D Change (%) | -13.11% |
| 90D Change (%) | -23.40% |
| YTD Change (%) | -51.50% |
Over the past three days, LRCBTC has declined by approximately -4.84%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -3.68%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LRCBTC maintaining a downward trend of approximately -13.11%, despite intermittent fluctuations. Examining the last 90 days, LRCBTC has witnessed substantial drop of approximately -23.40%, reflecting strong long-term confidence. Year-to-date, LRCBTC has steadily depreciated by around -51.50%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Loopring Live Chart:
You can access a live price chart for LRC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.42031.
- Momentum score is -0.13112.
LRC BTC Technical Analysis
Loopring Trading Volume:
The trading volume for Loopring (LRC) over the past 24 hours has been significant, with approximately 1,070,232.00 BTC traded against LRC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): LRC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Loopring is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for LRC-BTC is currently in the low zone, around 42.32374. This suggests that Loopring is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Loopring (LRC-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Consider bearish sentiment for Loopring (LRCBTC) at 5.50e-06 BTC as technical analysis emphasizes weakened support and cautionary indicators for potential downturns.
Take the next step in your exploration by delving into our detailed insights on LRC USDT Loopring Technical Analysis; it’s a natural follow-up if you enjoyed this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.