At the time of writing LRC is being traded at the rate of $2.82 with a decrease of 2.54% within the last 24 hours.
The low within this tenure was around $2.72 and the high was approximately $2.96. The coin as being in the watchlist of many traders makes it rank all the way up to number 51st according to the latest data released by coin market cap.
LRC made its all-time high in the month of November 2021 where it reached an enormous amount of $3.85. At the moment it has a daily volume of $500,979,005 with an increase of 3.73% within the last 24 hours. The circulating supply of LRC is now around 1.33B. LRC has a dominance of 0.14.
The top exchanges for trading LRC are currently Binance, Mandela, FTX, OKEx.
Technical Analysis – Loopring (LRC)
There isn’t much available on the daily time frame, so moving to the 4-hour time frame to notice more details. It can be seen that the price is consolidating. It should be noticed that the price is being supported by a trend line. At numerous positions, LRC has bounced back from there.
The price had formed a head and shoulder pattern which has resulted in the drop in the price. Now, this drop created an imbalance in the position. This imbalance can drive the price upwards. Normally we see the price to mitigate the 50% of the imbalance candle and we expect it to happen.
The second zone to notice is the order block formed below. If the price isn’t able to hold above, we can expect LRC to drop down and touch the order block. Of course, it can reverse from other positions such as around $2.6. In case the price holds, we can expect a higher move upwards to create new highs.
Price Prediction – Loopring (LRC)
In the long run, LRC is a highly good opportunity. In September LRC was being traded at the price of around $0.4 and now it has crossed two dollars. According to the wallet investor, the price of LRC is to reach a value of $3.676 in a year. For a five-year plan, the price will reach a value of $6.369. The way the price of LRC has grown, the traders are even more bullish on the value and they think that it will reach even more.
