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The Loopring token has secured the second spot on today’s list of top-performing coins. The token has registered a 17.46% price increase and continues to hold a significant portion of those gains. A more detailed price examination of this market is provided below.
LRC Market Statistics
Current Price: $0.0963
Market Capitalization: $131.1M
Circulating Supply: 1.36B
Total Supply: 1.37B
CoinMarketCap Rank: 304
Key Price Levels:
Resistance: $0.1000, $0.1250, $0.1500
Support: $0.0900, $0.0750, $0.0500
LRC Upside Surge Holds Against Bearish Pressure
As mentioned above, Loopring has recorded a strong upward price movement within a single session. This surge initially pushed prices across the middle and upper limits of the Bollinger Bands (BB) indicator.
However, bearish pressure triggered a contraction, pulling the token to trade just below the upper band of the BB indicator. Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator line has fallen sharply below the 80 level as a result of the ongoing contraction. Despite this, buyers are still performing relatively well.
Loopring Retains Positive Outlook
The LRC 4-hour chart shows that most of the upside momentum was registered in the last four hours. It is also evident that despite the current pullback, price action remains well above critical technical levels, such as the middle band of the BB indicator.
At the same time, the SRSI lines are climbing upward toward the overbought region, even amid the contraction. This suggests that the market retains a positive outlook and may soon reach the $0.1250 price level.
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