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- 1 Loopring price prediction is bullish till the LRC crypto sustains above the $0.1600 level.
- 2 LRC price is stuck in the narrow range consolidation.
- 3 Loopring crypto price is trying to climb above the 50-day EMA.
Loopring price prediction is bullish and suggests that LRC crypto price may show an upward range expansion.
LRC price is stuck in a narrow range and has consolidated for quite a long time. It shows signs of base formation and the buyers are trying to rebound from the lower levels.
Loopring price attempted to break out of the 50-day EMA hurdle to reverse the short-term trend. But the attempt failed and the price reverted down. It shows that sellers are active and it will be difficult for the bulls to expand the range upward.
Loopring crypto price is quite volatile and spikes in the buying and selling volume are frequent. It shows that the speculative activities are high. So, buyers need to be careful at the time of breakout and wait for confirmation.
LRC price is near the year-till-date low so the downside risk is low. However, in the coming months, LRC crypto needs fresh buying to regain the confidence of the investors.
Loopring price is trading at $0.1700 with an intraday rise of 0.71%. The 24-hour volume to market cap is 4.69%.
Will Loopring Price Recover by 2023 End?
Loopring price prediction suggests LRC crypto is preparing for a bullish reversal. If the crypto leaders BTC and ETH prices perform well in October, then it may positively impact the LRC crypto as well as other coins.
LRC price will gain momentum when buyers succeed in breaking the $0.2000 hurdle. Till then, it is expected to continue trading in a range.
On the other hand, if the Loopring price drops below $0.1600, then more downside will open. The technical analysis suggests that the LRC price looks oversold and may show some recovery by 2023 end.
LRC Price Looks Bearish on Weekly Timeframe
LRC price formed a bearish pattern on the weekly timeframe. Buyers look reluctant to build long positions in the fear of more sell-off. However, until the price breaks either side of the range, it is too early to predict the next move.
The MACD curve generated a negative crossover and the histogram bar is red. It indicates mild bearishness. The RSI at 41 showcases that sellers are more active as compared to buyers. However, if the price recovers, then RSI might reach neutral territory.
Conclusion
Loopring price prediction is bullish for October and for the next few months. However, the LRC price will gain positive momentum when buyers succeed in breaking the $0.2000 hurdle. The analysis suggests that LRC crypto is oversold and may show a reversal in the coming months.
Technical Levels
- Resistance Levels: $0.2000 and $0.2200
- Support Levels: $0.1600 and $0.1500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish 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.
