Loopring (LRC) Records a 4.51% Gain

Although modest, the Loopring market has managed to register some upside recovery. However, the token still trades below key technical levels. Nevertheless, it may still record additional gains.

LRC Statistics

Current Price: $0.0401

Market Capitalization: $54.92M

Circulating Supply: 1.36B

Total Supply: 1.37B

CoinMarketCap Rank: 345

Key Levels

Resistance: $0.0450, $0.0600, $0.0700

Support: $0.0400, $0.0300, $0.0200

Loopring Claims Modest but Additional Gains

The LRC token has recorded a 4.51% price increase on the daily chart. Nevertheless, price action remains below the 9-day Exponential Moving Average (EMA) curve.

The most recent price candle on this chart is green and is testing the 9-day EMA curve as a resistance level. At the same time, the Stochastic Relative Strength Index (SRSI) lines have moved above the 70 level of the indicator, with the lead line now above the 80 mark.

LRC Market Maintains an Upside Bias

On the Loopring 4-hour chart, price action continues along a bullish path. The last three price candles are green; however, the last two are thin, suggesting that resistance may be emerging.

Beginning of a Massive Reversal of Loopring | LRC Crypto News

Price action in the Loopring market has been attempting a breakout while trading within a downward price channel. However, the market now appears to be on the verge of a well-anticipated upward breakout.

LRC Market Maintains an Upside Bias (Continued)

Despite this, price activity remains above the 9-day EMA curve. Likewise, the SRSI remains tilted upward and currently stands above the 70 level. This suggests that there may still be short-term opportunities in this market, potentially toward the $0.0410 price level.

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