Loopring (LRC) Is Bursting Out

The Loopring token has appeared on the radar of the top most profitable coins list as of today. This token has recorded about a 10% price increase within the day. However, market dominance holds at just 9.39% as of the time of capturing its metrics. Nevertheless, trading indicators can still be seen presenting the impression that more gains may be possible in this market, so let’s dive straight in.

Loopring Market Statistics

Current Price: $0.1109

Market Capitalization: $151.00M

Circulating Supply: 1.37B

Total Supply: 1.36B

CoinMarketCap Rank: 270

Key Price Levels

Resistance: $0.1150, $0.1250, $0.1500

Support: $0.1100, $0.0950, $0.0850

LRC Eyes More Elevated Price Levels

Price activity in the Loopring daily chart has once again made its way through the middle limit of the Bollinger Bands (BB) indicator. The ongoing session shows bulls sustaining trading activity above this threshold.

Meanwhile, the curves of the Stochastic Relative Strength Index (SRSI) lines are still rising upward into the overbought region. The lead line of the indicator is already at the 93.53 mark, while the lagging line is positioned around 74.89. The difference in distance between the indicator lines suggests increased volatility. As a result, this could support a faster price expansion for the token.

Loopring Stacks Up Gains Toward $0.1200 Price Level

Observing the LRC market via the 4-hour price chart, it can be seen that the price candles have been bullish since four sessions ago. The ongoing session has maintained the trend with visible bullish momentum. The BB indicator itself has an upward bearing, which portrays the overall direction of the market.

Also, as opposed to the beyond-limit action seen on the daily chart, this 4-hour chart shows that price activity remains within limits. The lines of the SRSI indicator can be observed rising in a steadier manner from the oversold region. Technically, this indicates that the market may soon reach the $0.1200 price level.

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