Market Overview for Loopring/Tether (LRCUSDT) - 2025-11-01

• Loopring/Tether (LRCUSDT) closed 0.5% higher in the last 24 hours, breaking out above a key resistance zone.
• Price tested the 0.0665–0.0670 range multiple times, with growing volume confirming bullish momentum.
• Volatility expanded significantly in the early morning, with a late surge pushing price to a 24-hour high near 0.0681.
• A bullish engulfing pattern formed around 0.0665, suggesting potential follow-through buying.
• RSI showed signs of overbought conditions by the close, suggesting possible short-term consolidation ahead.

The 24-hour price action for Loopring/Tether (LRCUSDT) began at 0.0661 and reached a high of 0.0681 before closing at 0.0675. Over the period, total trading volume amounted to approximately 3,460,344.0 LRC, with a notional turnover of roughly $234,498.68. The price appears to have found support in the 0.0665–0.0670 range, with a breakout observed in the later hours, which was confirmed by an increase in volume and closing near the high.

A closer look at the 15-minute chart shows that the 20-period and 50-period moving averages have both turned upward in the last 4 hours, suggesting that the short-term trend has turned bullish. The 50-period MA, in particular, crossed above the 20-period MA, forming a potential golden cross. On the daily chart, the 50-period MA continues to trend upward, while the 100- and 200-period MAs are still trending lower, indicating a longer-term bearish bias.

The MACD histogram has turned positive and shows increasing momentum, with the MACD line crossing above the signal line near 0.0670. This confirms a potential shift in momentum in favor of the bulls. RSI is currently at 62, having moved out of overbought territory (above 70) but remains in the upper half of the range, indicating ongoing bullish pressure. However, it could see a pullback as it approaches overbought levels again.

Bollinger Bands have widened in the last 3 hours, reflecting increased volatility as the price surged toward the upper band. This suggests that the market could potentially consolidate after the recent rally. A volatility contraction may follow if the price stabilizes near the 0.0675 level. The price currently sits near the upper Bollinger Band, which may act as a short-term resistance level if the momentum wanes.

Volume has spiked in the morning and early afternoon, with the most significant volume observed around the 0.0675–0.0681 range. Turnover also increased during this period, confirming that the price breakout was backed by significant buying interest. However, the divergence between volume and price may indicate that the rally could face resistance. A continuation of the bullish trend is more likely if volume remains elevated during the next upward move.

Fibonacci retracement levels drawn from the recent swing low (0.0651) and swing high (0.0681) show that the current price is near the 78.6% level. If this level holds, it could act as a temporary support. A break below 0.0669 (the 61.8% retracement level) could trigger a deeper pullback. On the 15-minute chart, the price has tested the 0.0665–0.0670 range multiple times, with the 0.0669 level showing signs of becoming a critical support zone.

The MACD and RSI indicators both suggest a shift in short-term momentum toward the bullish side, with RSI still in the upper half and MACD showing increasing positive divergence. Bollinger Bands are currently wide, with the price near the upper boundary, which may indicate a continuation of the rally or a potential reversal if volume tapers. A key area to watch is the 0.0665–0.0675 range, where both volume and price action have shown significant activity.

Backtest Hypothesis
Given the recent surge in LRCUSDT and the confirmation of bullish momentum through the MACD and volume, a potential backtest strategy could involve a 5-day holding period triggered by a bullish crossover of the 20-period and 50-period moving averages on the 15-minute chart. This strategy would aim to capture the continuation of the recent upward trend. However, without access to daily MACD data or a valid symbol format for this pair, the hypothesis remains untested. If a valid exchange-qualified symbol (e.g., “BINANCE:LRCUSDT”) is provided, the strategy can be simulated using historical price data and refined for execution parameters.