LRC price continues to steal gains and is pivoting upward movement, replicating bullishness in the recent sessions. Moreover, the price action indivates strong buying momentum and that bulls persisted in stretching the gains. Amid the positive global sentiments, the chart shows that LRC has ended the correction and reversed the trend.
LRC price is trading above the key moving averages and is pivoting the bullish momentum, which confirms the bullish stance on the chart. Furthermore, the trend is strong, and fresh buying momentum was witnessed, which gave a strong conviction that buyers have a strong grip and are likely to up the pressure soon. Per the ongoing trend, LRC is prepared to hit the swing high of $0.4000 and will reach the blue sky zone soon.
The live price of Loopring is $0.322, with an intraday drop of 1.31%, showing neutrality on the chart. Moreover, the trading volume increased by 21.47% to $102.10 Million. However, the pair of LRC/BTC is at 0.00000768 BTC, and the market cap is $406.24 Million. Analysts have maintained a neutral rating, suggesting that the rally will continue in the following sessions.
LRC on Daily Chart Displays Rising Parallel Channel
On the daily chart, LRC price overextended the neutral trajectory and approached the bullish territory, replicating bulls’ dominance in the recent sessions. Moreover, the technicals are highlighting the follow-on buying outlook, and buyers have persisted in stretching the rally and have delivered a breakout.
The relative strength index (RSI) curve stayed in the overbought zone and formed a positive divergence, suggesting a bullish stance for the following sessions. The MACD indicator shows a bullish crossover and formed green bars on the histogram, suggesting that the performance will continue in the following sessions.
Will LRC Price Surpass 200 Day EMA Barrier?
On the weekly chart, LRC price caught a u-turn from the demand zone of $0.1500, surging over 100% in the recent sessions. However, the LRC coin price is close to the 200-day EMA hurdle, and buyers are trying to surpass it to soar further.
Summary
LRC price has recuperated from the bottom zone and highlighted buyers’ accumulation in recent sessions. Furthermore, the technicals portray the trend reversal, and buyers are keen to overtake the 200-day EMA. The RSI and the MACD charts show bullish crossovers. Analysts have given neutral ratings for the upcoming sessions.
Technical Levels
Support Levels: $0.3000 and $0.2850
Resistance Levels: $0.3400 and $0.3800
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
Source: https://www.thecoinrepublic.com/2023/12/30/lrc-price-prediction-loopring-picks-up-momentum-above-0-3000/