Loopring Price Analysis: LRC Token Gave A Remarkable 230% Returns In One Week

How far will LRC go? The technical outlook for the LRC token indicates a super bullish trend, where its price keeping making new higher one after another. One of the reasons that could have gathered the intention of crypto traders to LRC token would be the widespread tumors of Loopring has partnered with Gamestop for a new NTF marketplace.

The LRC token marks $3.84 as the New-All time
The RSI value for the daily LRC token chart has reached the overbought area
The intraday volume of The LRC token is $8.8 billion, which indicates a 73.2% hike

Source: LRC/USD chart by Tradingview

The LRC token entered the November month with a bang when its price provided a decisive breakout from the previous All-Time High of the $0.9 mark. Thus, the token price indicated a significant up movement right from the next day, climbing the higher level for its chart.

The LRC price has surged around 230% in just one week and is currently trading at $3.48, marking the $3.85 as the New All-Time High. As per the crucial EMAs( 20, 50, 100, and 200), the token price has already left them way behind, projecting a super bullish trend for this token.

The Relative Strength Index(RSI) current value is 91, indicating an overbought scenario for LRC.

LRC/USD Chart In The 4-hour Time Frame

Source: LRC/USD chart by Tradingview

The LRC token is currently experiencing a slightly higher price rejection from the $3.85 mark. If the token price starts rejecting from this new ATH level, the crypto traders can expect a minor retracement in this chart.

According to the Fibonacci retracement levels, the nearest support level for this token at $3(0.236 FIB), followed by $2.1(0.5 FIB). The Current price of the LRC token is $3.4, with intraday gains of 16.38%

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Sunil Sharma

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on X at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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