LRC USDT Loopring Technical Analysis

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By Frans van Elst

Loopring logo 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 decentralized exchange (DEX) built on top of the Ethereum blockchain that enables users to trade various assets directly with one another without relying on intermediaries. LRC is also a native cryptocurrency used for paying fees and settling trades within the Loopring ecosystem. With its unique ring-based architecture, Loopring aims to provide a secure, trustless, and highly scalable trading experience for users.

Loopring Price Overview:

As of May 15, 2024, Loopring is trading at approximately 0.2509 USDT. Let’s dive into the detailed price action for LRC-USDT:

Navigate Loopring’s (LRCUSDT) potential downturns at 2.51e-01 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.2409
High (H) 0.252
Low (L) 0.2364
Close (C) 0.2509
Volume (C) 15,440,194.00
  • Open (O): The opening price for today’s trading session was approximately 0.2409 USDT.
  • High (H): Loopring reached a daily high of around 0.252 USDT.
  • Low (L): The daily low for LRC-USDT was approximately 0.2364 USDT.
  • Close (C): At the time of analysis, Loopring is trading near its daily close of 0.2509 USDT.
Metric Value
1D Change (%) 4.15%
3D Change (%) 3.81%
7D Change (%) 0.40%
30D Change (%) -0.24%
90D Change (%) -0.55%
YTD Change (%) -15.92%

Over the past three days, LRCUSDT has increased by approximately 3.81%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.40%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LRCUSDT maintaining a downward trend of approximately -0.24%, despite intermittent fluctuations. Examining the last 90 days, LRCUSDT has witnessed substantial decrease of approximately -0.55%, reflecting strong long-term confidence. Year-to-date, LRCUSDT has steadily decreased by around -15.92%, 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 0.49655.
  • Momentum score is -0.04528.

LRC USDT Technical Analysis

Loopring Trading Volume:

The trading volume for Loopring (LRC) over the past 24 hours has been significant, with approximately 15,440,194.00 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 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-USDT is currently in the low zone, around 44.49136. This suggests that Loopring is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Loopring (LRC-USDT) is currently exhibiting signs of short-term bearish 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 low RSI and significant trading volume are low signals for potential downward movement.

Navigate Loopring’s (LRCUSDT) potential downturns at 2.51e-01 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Take the next step in your exploration by delving into our detailed insights on LRC BTC 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.

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