The Loopring market has been showing some bullish consistency, as it once again appears today on the list of the top three most gainful coins. Additionally, its price activity suggests that bullish forces remain active and may drive the market to further gains.
LRC Statistics
Current Price: $0.1158
Market Capitalization: $154.19M
Circulating Supply: 1.36B
Total Supply: 1.37B
CoinMarketCap Rank: 255
Key Price Levels
Resistance: $0.1200, $0.1600, $0.2000
Support: $0.1100, $0.0900, $0.0700
Loopring Pushes Limits
On the LRC daily chart, price action has continued upward. As a result, the market is testing the upper boundary of the Bollinger Bands. The latest price candle on this chart can be seen pushing against this upper limit.
At the same time, the Moving Average Convergence Divergence (MACD) lines are positioned above the 0.00 level, indicating bullish momentum. The histogram bars are also green and above the 0.00 level. Although the last price candle has shown some downward contraction, it remains green, holding on to most of its recent gains at writing.
LRC Maintains Its Path Despite Rejection
As observed on the Loopring daily chart, price action has pushed strongly against the upper limit of the Bollinger Bands. Consequently, a slight downward rebound has occurred in the current session. Nevertheless, the price candle continues to hover near the upper boundary of the indicator.
Similarly, the MACD line is rising above the equilibrium level, and the histogram bars remain green, suggesting continued bullish momentum. Despite the pullback, upside forces still appear to maintain control of price movements. As a result, traders may target the $0.1300 price level.
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