- LRC coin price along bearish trend is on its last breath and a bullish momentum might begin. It has observed a gain of more than 0.5% in the past 24 hours.
- Technical indicators of LRC hints towards a strong upside trend for upcoming days. In contrast, LRC/BTC pair might also see a strong trend in the future
Why Invest In LRC Coin?
LRC coin price has been on a downside trend and can soon hit the support of $2 before retracing its way to a new high. Loopring cost is right now exchanging close to the worth of $2.3 with a gain of more than 0.8% in the intraday session. It is an ETH-based token for Loopring. It has been intended for the structure of decentralized digital money exchanges. The organizer and current CEO of Loopring Foundation is Daniel Wang, and he is additionally a computer programmer and business person situated in Shanghai, China. LRC ICO came in 2017 and its mainent originally came in 2019.
LRC has a market predominance of over 0.51% and is positioned 49th in the crypto-verse. The volume of Loopring has seen an addition of 52% in the daily time frame and can soon see a new high. Volume to market cap proportion of the asset cost recommends a solid potential gain drift. One can put resources into LRC according to their requirements and hazard limit
LRC Coin Price Bulls And Bears Are On A Stand-By
LRC coin price weekly technical chart hints towards a downside trend in the asset price for upcoming days. On coming to the daily chart the asset price is seeing a dip but can soon see a reversal. The upside trend of the Loopring can see a hostility near $3. The support of the coin in the downside trend can be seen near $1.2. The asset is currently hovering over the 50 and 100 Daily Moving Average. The 50MA line is near $2.13 and can act as temporary support of the asset price. There is a strong bullish engulfing pattern in the daily chart which can see a strong push the price to a new high. LRC/BTC pair can also observe a new high in the future. One can forecast a strong upside trend in the asset in the future
Conclusion
LRC coin price downside trend might be coming to an end and a bullish trend might begin. LRC/BTC pair can also see similar gains in upcoming days.
Technical Level
Major Resistance: $3
Major Support: $2