Crypto Technical Analysis

Loopring (LRC) Technical Analysis: Will LRC Price Hit INR 120 By the End of April?

Loopring Technical Analysis

Key Takeaways

  • The LRC price closed the previous day’s trade at INR 73.17 with a market capitalization of INR 126 Cr and a circulating supply of 133 Cr LRC tokens
  • Loopring price after fresh bounce aims at a 25% upswing to close the monthly trade above INR 100

Loopring (LRC) Technical – Analysis for the Month

The LRC price flipped from the descending trend that it ignited at the beginning of the month. And hence with a bullish weekly close, the LRC price may validate an upswing, hitting a 3-digit figure very soon. As the rally appears strong, it may handle the bear’s impact at pivotal levels and eventually end the monthly trade close to INR 100.

Loopring (LRC) Technical Analysis at a Glance

Loopring price is currently attempting to break through the descending consolidation. And hence the strength of the rally is pretty strong and also the asset is pretty volatile, therefore a strong upswing may be fast approaching. However, the bears may jump in as the LRC price hits INR 100, which may be a short-lived one.

Short-Term The LRC price appears to have reached the end of the bearish trend and hence a strong uptrend may be ignited very soon
Mid-Term The price has undergone a notable upswing and hence the possibility of a minor pullback emerge
Long-Term Loopring may reverse the trend any time from now as the price is all set to stabilize a strong uptrend

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 68.65 / 52.97 Buy / Neutral
MACD(12,26) 0.016 / 0.005 Buy / Buy
Average Directional Index(ADX) 41.75 / 43.46 Buy / Buy
Bull-Bear Power 0.058 / 0.022 Buy / Buy

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 INR 0.925 INR 0.915
Moving Average(MA)-200 INR 0.902 INR 1.35
Resistance INR 90.51 INR 104.09
Support INR 72.65 INR 47.81

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 51.33 51.38
Ultimate Oscillator 65.08 54.47
Average True Range(ATR) 0.016 0.07
CCI 293.14 70.32

With the fresh bounce, it appears that the LRC price has flipped the bearish divergence with strong bullish momentum. And hence the price is extremely bullish in both the time frames, heading towards the north. However, the asset is highly volatile in STF and hence a drastic variation may be expected. 

LRC/INR Technical-Analysis for Short-Term

Source: Tradingview

  • The LRC price ever since smashed its highs maintained a notable descending trend and smashed the lower support a couple of times
  • However, the price is currently maintaining a strong uptrend after the recent upswing from the lower 0 FIB levels at INR 64
  • The price surpassed 0.23 & 0.38 FIB levels and currently testing the crucial 0.618 FIB levels at INR 76.35
  • In the price breaks through these levels, then the price may range high towards 0.78 FIB level at INR 80.42 and eventually test 1 FIB level at INR 85

LRC/INR Technical Analysis for Long-Term

Source: Tradingview

  • The LRC price has since smashed its highs is trending within a huge descending trend and holding the lower support strong 
  • Hence forming a descending triangle pattern, the price usually carries the fear of a drastic plunge but the RSI and MACD are bullish, the possibility of a drastic plunge is pretty less
  • However, the LRC price may experience a minor pullback and eventually rise high beyond the 3-digit figure very soon
  •  Yet the trading volume is comparatively less and hence it may impact the strength of the rally which may deviate as per the volume induced

Additional Read: LRC Price Prediction

Where & How to Buy Loopring(LRC)

Buying and selling on CoinDCX is very easy & safe, and you also get the best deal in the market with huge benefits. Just download the CoinDCX App and register yourself. Once your data is verified, then fund your wallet and buy a Loopring (LRC) token.

Investing huge amounts may be a tedious job for many. And hence CoinDCX presents Crypto Investment Plan(CIP) where you can invest in your desired crypto in easy weekly installments. Therefore, start investing in Bitcoin & other cryptos with Crypto Investment Plan now!


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to .
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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