Loopring Price Prediction 2021 – Will LRC Hit $0.9 Soon?

Loopring Price Prediction 2021 - Will LRC Hit $0.9 Soon?
  • Bullish LRC price prediction ranges from $0.28 to $0.84.
  • The LRC price might also reach $0.9.
  • LRC bearish market price prediction for 2021 is $0.07.

In LRC price prediction 2021, we use statistics, price patterns, ADX, and much other information about LRC to analyze the future movement of the cryptocurrency

Loopring (LRC), an ERC-20 token, it is a self-possessed open-sourced, audited, and non-custodial exchange protocol. Loopring aims to allow anyone to build non-custodial, order book-based exchanges on Ethereum by leveraging zero-knowledge proofs. Loopring’s performance is sufficient for professional traders and market makers to deploy algorithmic strategies and other automated trading bots.

Current Market Status of Loopring (LRC)

According to Coingecko, the price of LRC is $0.2778 with a 24-hour trading volume of $53,545,025 at the time of writing. However, LRC raised to 9.77% in the last 24 hours.

Moreover, LRC has a circulating supply of 1.32B LRC coins. Currently, LRC trades in cryptocurrency exchanges such as Binance, Tokocrypto, OKEx, Huobi Global, and FTX. 

Loopring (LRC) Price Prediction 2021

Loopring (LRC) holds the 153rd position on CoinGecko right now. LRC price prediction 2021, explained below with a weekly time frame. 

LRC/USDT Triangle Pattern (Source: Tradingview)

The triangle pattern can be viewed as the starting point for all variations of the triangle pattern. A triangle can seen after drawing two converging trendlines on a chart The triangle chart pattern is formed by drawing two converging trendlines as price temporarily moves in sideways directions. 

Currently, LRC is trading at $0.277. After this, LRC may continue to fall or rise according to the direction of the breakout. With this pattern, LRC might reach the resistance level at $0.86 soon, if the trend breaks out at $0.43. If the trend reverses, then the price of LRC may fall to $0.11.

Loopring (LRC) Support and Resistance Level

The below chart shows the support and resistance level of Loopring (LRC). 

LRC/USDT Support and Resistance Level (Source: TradingView)

The above chart shows that the following are the resistance and support levels of LRC.

  • Resistance Level 1 – $0.28
  • Resistance Level 2 – $0.41
  • Resistance Level 3 – $0.84
  • Support Level 1 – $0.17
  • Support Level 2 – $0.12
  • Support Level 3 – $0.07

The chart depicts the bearish performance of LRC over the previous month. However, this trend will continue to reach the resistance level at $0.84 soon. On the contrary, if the trend reversed then LRC might fall to $0.07 presenting a bearish signal.

Loopring (LRC) Average Directional Index (ADX)

Let us now look at LRC’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.

LRC/USDT ADX (Source: TradingView)

The above chart represents the ADX of LRC with the range at 24.70828, so it indicates a weak trend.

Conclusion

The LRC is one of the cryptos which is great for long-term investment. In addition, LRC price prediction will bearish or bullish, until the breakout direction confirmed. But, it has a good chance of reaching $0.84 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the LRC ecosystem, the performance of LRC would rise reaching $0.84 very soon. But, it might also reach $0.9 if the investors believe that LRC is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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