- LRC coin price is looking to maintain its sustainability above the crucial support level. It has seen a drop of more than 4% in the past 24 hours.
- Technical indicators of Loopring suggest a consolidated trend in price. In contrast, LRC/BTC pair has also observed a drop of more than %
Why Invest In LRC Coin?
LRC coin price is currently in a consolidated mode with a possibility for a strong upside trend. Loopring cost has been hanging around the value of $2.3 with a gain of more than 4.38%. It is ETH-based for the token Loopring. It has been expected for the construction of decentralized computerized cash exchanges. The coordinator and current CEO of Loopring Foundation is Daniel Wang, and he is moreover a software engineer and money manager arranged in Shanghai, China. LRC ICO came in 2017 and its mainent initially came in 2019.
LRC has a market prevalence of more than 0.51% and is situated 53rd in the crypto stanza. The volume of Loopring has seen an expansion of 15% in the everyday time frame and can before long see another high. The volume to market cap ratio of the LRC suggests a strong upside trend. One can place assets into LRC as per their necessities and danger limit of their capital.
LRC Coin Price Bulls Are Ready For A Strong Move
LRC coin price weekly technical chart suggests a consolidated trend in the price for the future. On coming to the daily chart the asset price has been seeing a halt at its major resistance. The upside trend of the Loopring may observe a threat near the value of $3. The support of the asset in the downtrend can be seen near $1.8.The asset is currently hovering near the 50 and 100 Daily Moving Average. The 50MA line is near $2.1 and can act as temporary support if the price sees a drop-down There is a consolidated pattern formation in the asset which if it breaks can lead the price to a new high. LRC/BTC pair might also see a new high in the future. One can forecast a strong gain in Loopring in the future along with the price.
Conclusion
LRC coin price is currently in a downside trend but can soon revert to strong upside momentum. LRC/BTC pair might also observe a strong uptrend in the future.
Technical Level
Major Resistance: $3
Major Support: $2