Home
News
•LRC/USD is currently priced at $0.24 and has increased by 0m40% over the past day
•The trading volumes have decreased by 36.44% over the past day
•The technical indicators suggest a bearish outlook for the near term
Short Term View: More downside to be expected in Loopring?
The Loopring price today is $0.242445 USD with a 24-hour trading volume of $15,756,551 USD. Loopring is up 0.40% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.04881 for the altcoin.
Loopring price has suffered a great deal over the past few weeks as a result of the buyers drying up in the market. The bears have entrapped the investors and the negative sentiment is depicted by the Loopring price currently transacting below the 20,50 SMA on the four hour chart. The downtrend will be curtailed if the bulls will somehow be able to mount a sustained challenge towards the $0.30 resistance level. On the flip side, the support for the altcoin is placed at $0.20 in the event of the resumption of the downtrend.
Long Term View for Loopring price
The RSI for Loopring has taken a hit in recent days and is currently transacting at 46.31. The green histograms have lost all of the steam ahead of what could be a major blow to the altcoin’s prospects. A bearish crossover could occur on the daily chart in the coming days if the downtrend sustains. Meanwhile, the MACD and signal lines continue to transact in the negative zone.
Conclusion
The negative price sentiment seen across Loopring has had a detrimental impact on the altcoin as the asset has struggled to come to terms with the intense selling pressure. The coming days will likely see the continuation of the downtrend as per the technical indicators.
Support: $0.20-$0.15
Resistance: $0.30-$0.35
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
