Loopring (LRC) Gains Moderate Traction

The Loopring token has appeared on the daily list of top crypto gainers. It currently ranks second on this week’s list, as technical indicators suggest that more gains may be recorded in this market. With that in mind, let’s take a closer look at recent price movements.

LRC Statistics

Loopring Current Price: $0.1080

Market Capitalization: $145.65M

Circulating Supply: 1.36B

Total Supply: 1.37B

CoinMarketCap Rank: 274

Key Price Levels

Resistance: $0.1100, $0.1600, $0.2000

Support: $0.1000, $0.0950, $0.0900

Loopring Continues Upward Retracement

For the second consecutive session, the LRC token has continued to post moderate upward movements. Moreover, price action is beginning to climb past important technical levels. The most recent price candle has risen above both the 20- and 50-day Moving Average (MA) lines.

Meanwhile, the Moving Average Convergence Divergence (MACD) line is climbing above the 0.00 level, with the latest MACD histogram bar turning green—indicating growing bullish momentum. A closer look at the MA lines also shows signs of a pending convergence between the 20- and 50-day curves, reinforcing the potential for continued upward movement.

 

LRC Maintains a Bullish Path

On the 4-hour chart, the Loopring market maintains a steady upward trajectory. With price action staying green, this market presents a moderate but consistent bullish outlook. Price activity has climbed above all the MA lines, and the latest price candle remains green.

Additionally, the MACD lines have crossed above the equilibrium level, and the histogram bars continue to appear green and increasingly tall. Technically, this indicates that bullish forces are firmly in control and continue to drive the market. At this pace, Loopring appears poised to break above the $0.1100 price level shortly.

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