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
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