In this Loopring technical analysis, we will examine the current price action, trading volume, key levels and indicators for LRC-USDT. Loopring (LRC) is a cryptocurrency that focuses on providing a decentralized exchange (DEX) platform for users to trade various digital assets securely and efficiently. It utilizes a unique ring-based consensus algorithm, which ensures fast and low-latency transactions while maintaining a high level of security. Additionally, Loopring’s DEX platform supports a wide range of digital assets, including tokens, smart contracts, and other cryptocurrencies, making it an attractive option for traders and investors alike.
Loopring Price Overview:
As of October 02, 2023, Loopring is trading at approximately 0.1833 USDT. Let’s dive into the detailed price action for LRC-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.1888 |
| High (H) | 0.1911 |
| Low (L) | 0.1807 |
| Close (C) | 0.1833 |
| Volume (C) | 8,998,137.00 |
- Open (O): The opening price for today’s trading session was approximately 0.1888 USDT.
- High (H): Loopring reached a daily high of around 0.1911 USDT.
- Low (L): The daily low for LRC-USDT was approximately 0.1807 USDT.
- Close (C): At the time of analysis, Loopring is trading near its daily close of 0.1833 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.91% |
| 3D Change (%) | 3.85% |
| 7D Change (%) | 6.57% |
| 30D Change (%) | 2.69% |
| 90D Change (%) | -24.07% |
| YTD Change (%) | -2.34% |
Over the past three days, LRCUSDT has risen by approximately 3.85%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 6.57%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LRCUSDT maintaining an upward trend of approximately 2.69%, despite intermittent fluctuations. Examining the last 90 days, LRCUSDT has witnessed substantial decline of approximately -24.07%, reflecting strong long-term confidence. Year-to-date, LRCUSDT has steadily declined by around -2.34%, 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-USDT 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 0.33968.
- Momentum score is 0.02689.
LRC USDT Technical Analysis
Loopring Trading Volume:
The trading volume for Loopring (LRC) over the past 24 hours has been significant, with approximately 8,998,137.00 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Loopring is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for LRC-USDT is currently in the neutral zone, around 46.64638. This suggests that Loopring is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Loopring (LRC-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
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.
