Can LRC Crypto Surpass 200-Day EMA?

Loopring (LRC) is a protocol that aims to improve the trading of cryptocurrencies by combining the best features of centralized and decentralized exchanges. It uses Ethereum-based LRC tokens to power its platform, which matches orders off-chain and settles them on-chain. 

Loopring was launched in 2017 and deployed on Ethereum in 2019. It offers a faster, cheaper, and more secure way to trade crypto than traditional exchanges. 

Loopring crypto price trend analysis illustrates that the price suffered rejection from the 200-day EMA and dropped nearly 6% in the past three intraday sessions. The bears are attempting to dominate the trend and keep the long-term trend in their favor. 

Moreover, the bulls are dominating in the short-term which is signaling a positive outlook in the coming sessions. Earlier, the price trend favored the bears but bulls turned aggressive near $0.15 and surged the price higher breaking above the 50-day EMA.  

Loopring Price Analysis Over Daily Chart

The recent surge has turned the short-term trend optimistic. However, the price currently struggles to surpass the 200-day EMA due to the presence of sellers at the upper levels. The breakout or breakdown may decide the next direction for the Loopring price. 

It has a 24-hour trading volume of $16.988 Million with a drop of 5.15% as compared to the last day. The live market cap of Loopring is $280.20 Million and it ranks 137th among all the cryptos. The volume-to-market cap ratio is 6.44% indicating very low volatility in the market. 

Loopring Price Prediction 2023

The most optimistic price forecast of the analysts expects the LRC price may reach a high of $0.26 signifying an upside potential of 25.65% from the CMP. The minimum price that Loopring could reach is $0.19.

Loopring Price Prediction 2024

As per analysts, the most optimistic target that the Loopring price may achieve is $0.339, indicating an upside potential of 61.80% from the CMP. The average analyst price target is $0.306 by the end of 2024. However, the pessimistic view of analysts estimates the price to reach $0.264. 

Loopring Price Prediction 2025

The most optimistic analyst forecast for Loopring crypto expects the price to reach a high of $0.452 with a potential gain of 116.28% from the CMP. The minimum forecasted price by the end of 2025 is $0.314.   

Loopring Price Prediction 2026

The LRC price may reach a high of $0.602 if a positive trend prevails for the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $0.416 by 2026. 

Loopring Price Prediction 2027

According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts is the price target of $0.957. The minimum price target is $0.646. 

Loopring Price Prediction 2028

On an optimistic note, the Loopring price may advance to a high of $1.283 in the next five years. The price may reach a minimum of $0.943 by the end of 2028. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.