Loopring Price Analysis: LRC Gearing Up for a Massive Rally?

  • Support for the bears has been established at $0.24
  • LRC’s intraday volume stands at $13,536,218.00.
  • The EMA(50) is currently at $0.31.
  • Loopring currently trades near $0.24

24 September 2023 : In this article we will walk you through Loopring price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Loopring, Is LRC a good investment? Loopring support & resistance levels etc. But before diving deep into the LRC technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,054,545,409,299. The total trading volume stands at $14,746,996,787. Bitcoin shares 49.16 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $26,589.42 level after an upward movement of 0.06%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.18 percent reaching to $1,595.28 during the previous 24 hours.
While publishing this blog, BNB traded at $210.66, following a price change of -0.03%within the same time frame. XRP the native coin of XRP is down by 0 and currently trading at $0.51. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Loopring Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Loopring (LRC)

LRC Resistance Levels LRC Support Levels
Resistance Level 1 $0.27 Support Level 1 $0.24
Resistance Level 2 $0.29 Support Level 2 $0.23
Resistance Level 3 $0.30 Support Level 3 $0.21

Loopring Performance

LRC has recorded a upsurge, gaining 0.83% in last 24 hours. The current value of Loopring is hovering at $0.24 with the trading volume of $13,536,218.00 USD in the same timeframe. The overall marketcap for LRC is $316,980,152.00 USD while the coin price changes 4.54% over the week.

Loopring Price Analysis

LRC price analysis for 24 September 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Loopring.

Moving Averages Price Indicator
Simple Moving Average (10) 0.27 Sell
Exponential Moving Average (10) 0.26 Sell
Simple Moving Average (20) 0.28 Sell
Exponential Moving Average (20) 0.28 Sell
Simple Moving Average (50) 0.31 Sell
Exponential Moving Average (50) 0.31 Sell

While LRC’s Williams %R indicator is at -60.626 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The LRC/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. Loopring is moving in downward direction as bears successfully take the coin below immediate support level of $0.24. Now LRC should find a support at $0.23 or else the sellers could then target the crucial support level placed at $0.30. RSI implying oversold phase while trading at 22 and is trying to break out of the bearish zone while highlighting massive bearish strength.


According to our technical analysis data, the short-term forecast for the Loopring price is mostly bullish at the time of writing. The cryptocurrency Loopring seems to be on the rise again. A significant return-on-investment (ROI) is predicted if you acquired the currency some time back.