- Loopring Price traded in a pole and flag pattern resulting in a breakout of the token.
- The crypto asset is trading above 20, 50, 100 and 200-days Daily Moving Average.
- The pair of LRC/BTC is trading at 0.00002779 BTC with an intraday gain of 0.99%, and the ratio of LRC/ETH is CMP at 0.0003873 ETH with a 24-hour positive change of 1.06%.
Loopring Coin price trading bullish over the hourly time frame chart. LRC coin has gained 10.72% of its market capitalization in a week. LRC coin generated pole and flag pattern with the help of a bullish rally resulting in a pole and then traded in a falling wedge resulting in a flag. Going through the pole and flag pattern over the hourly chart, the LRC coin experienced a breakout. Afterwards, LRC gained 23.44% in the following bullish momentum followed by much needed breakout.
LRC coin is presently CMP at $1.29 and has lost 1.87% of its market capitalization in the last 24-hour period. The high volatile nature of the cryptocurrency market is being showcased by the LRC coin. Trading volume has decreased by 33.22% in the intraday trading session. Volume to market cap ratio is 0.5432.
LRC coin price trading with a strong uptrend momentum over the hourly time frame chart. The short term view of the coin is to maintain the following uptrend momentum during the intraday trading session LRC needs to attract more buyers. It can be seen that volume change over the chart is below average and needs to grow for LRC to maintain the uptrend momentum.
What do Technical Indicators Suggest about LRC?
LRC coin is trading bullish over the hourly chart. The technical indicators suggest that LRC may fall from the current levels or may experience short-selling anytime. Stoch-RSI showcases that K is moving towards oversold territory. MACD confirms that LRC is about to adopt the downtrend momentum as the MACD line is about to cross the signal line downwards resulting in the negative crossover. LRC investors need to wait for any directional change in the intraday trading session.
Conclusion
LRC coin after going through a pole and flag pattern over the hourly chart experienced a breakout. Then onwards LRC coin adapted a strong uptrend momentum. However, now technical analysis showcases that LRC is about to experience short-selling and LRC investors may witness a directional change in the intraday trading session.
Technical Levels
Support Levels: $1.05 and $0.80
Resistance Levels: $2.00 and $2.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.