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- After a nice climb, the LRC price is currently in a strong uptrend on the daily price chart, which is tracked by the most popular cryptocurrency, Bitcoin.
- The crypto asset is moving above the 20 and 100 days moving average.
- The LRC/BTC pair is at 0.00001858 BTC which is a gain of 1.65%.
The LRC price after a flattering uptrend is now at a strong uptrend movement over the daily price chart following the leading cryptocurrency Bitcoin. The BTC price surged today and moved above the mark of 22,000 which made all altcoins rally bullishly. Now the coin needs to attract some more buyers in order to make this bullish rally successful.
The trading volume is at a massive gain of 151% in just 24 hrs under the shadow of bulls, which in turn will pump the price. The recovery is not enough as it gained 23% in just 6 days so by attracting some more buyers the coin can speed up this recovery process. It can be a good time for the investors to make a swing entry to the market.
The current price for one LRC token is trading at $0.42 with a gain of 9.05% in its market capitalization in the last 24 hrs. The coin has a trading volume of 137 million which is at a massive increase of 152.46% in the 24 hrs trading session and a market cap of $568 million. The volume market cap ratio for LRC is 0.2359.
Will this Uptrend Last Longer?
While observing the chart for the short term (4 hrs) we can observe the bears are continuously trying to push the price and doing so by increasing the selling pressure over the coin. The trading volume for LRC is approaching the average.
The MACD indicator shows the buyer’s line is moving above the sellers line but the histograms have started fading which means the bears are back in action so the selling pressure over the coin is increasing which can make a negative crossover. In support, the relative strength index is indicating a bearish pressure over the coin as the RSI value plunged. The RSI value is below 60.
Conclusion
The LRC price after a flattering uptrend is now at a strong uptrend movement over the daily price chart following the leading cryptocurrency Bitcoin. Now the coin needs to attract some more buyers in order to make this bullish rally successful. The trading volume is at a massive gain of 151% in just 24 hrs under the shadow of bulls. We can observe the bears are pushing the price over the short-term chart and the technical indicators appear in support of the bears this time.
Technical levels
Resistance levels: $0.45 and $0.59
Support levels: $0.34 and $0.31
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
