Market Overview for Loopring/Tether (LRCUSDT)

• Price dipped to 0.0911 before rebounding and closing near 0.0926, showing intraday volatility.
• RSI signaled oversold conditions in the early hours, followed by a gradual recovery in momentum.
• Bollinger Bands showed moderate contraction early, followed by expansion as price approached the upper band.
• Volume spiked during the 0.0916–0.0913 leg, indicating heightened bearish activity.
• A bullish engulfing pattern formed near 0.0919–0.0921, hinting at potential short-term reversal.

The Loopring/Tether pair (LRCUSDT) opened at 0.0922 on 2025-09-19 12:00 ET, reached a high of 0.0944, and a low of 0.0909, closing at 0.0937 by 12:00 ET on 2025-09-20. The 24-hour volume totaled 5,567,418.0 units with a notional turnover of $489,635.60. Price activity showed a clear bearish impulse early, followed by a sharp reversal in the overnight and daytime hours.

Structure & Formations

The pair formed multiple bearish and bullish signals over the 24-hour period. A notable bearish impulse occurred around 0.0913–0.0916, where a strong decline was accompanied by heavy volume. Later, a bullish engulfing pattern emerged near 0.0919–0.0921, potentially signaling a short-term reversal. The price found support at 0.0916–0.0913, with the 0.0921–0.0923 area showing resistance during the late morning and early afternoon. A key pivot zone between 0.0924–0.0928 emerged as a consolidation level before the final upward move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bullish crossover as the price surged toward 0.0937. The 50-period MA crossed above the 20-period MA in the final hours, indicating strengthening upward momentum. On the daily chart, the 50-period MA was above the 200-period MA, reinforcing the idea of a longer-term bullish bias.

MACD & RSI

The MACD crossed above the signal line during the late evening and early morning hours, indicating positive momentum. The RSI dropped into oversold territory at 0.0913–0.0916 but recovered to a neutral 55–60 range by the end of the day. This suggests the bearish move was exhausted, and a bounce was likely supported by buying pressure.

Bollinger Bands

Bollinger Bands showed a contraction in the early hours, which typically precedes a breakout. As the price moved upward through 0.0925–0.0937, it approached and then touched the upper band, suggesting that volatility had expanded following the initial consolidation phase. Price remained within the bands, indicating that the move was not yet overextended.

Volume & Turnover

Volume surged during the bearish move to 0.0913, confirming the strength of the sellers. However, volume declined during the subsequent rally to 0.0937, suggesting the buyers may be cautious or the move is still in its early stages. Turnover aligned with volume, with a sharp increase during the 0.0913–0.0916 decline and a slower accumulation phase during the recovery. No significant divergence was noted between price and volume during the 24-hour period.

Fibonacci Retracements

Applying Fibonacci levels to the recent bearish leg from 0.0937 to 0.0913, key retracement levels at 38.2% (0.0930) and 61.8% (0.0925) were touched during the recovery phase. The 0.0925–0.0930 zone is now a potential area of resistance. On the 15-minute chart, the Fibonacci levels helped identify key consolidation and breakout points, especially around 0.0926 and 0.0928.

The price appears to be in a short-term bullish phase following the bearish exhaustion at 0.0913. Traders should closely monitor the 0.0928–0.0930 area as a potential target zone or reversal point. A break above 0.0937 could extend the upward move, but a pullback to test 0.0925–0.0926 should be considered a high-probability support zone. Investors should also remain cautious of potential volatility, especially if volume increases again in the next 24 hours.

Backtest Hypothesis

The described backtesting strategy involves entering long positions when the RSI crosses above 30 on the 15-minute chart and confirming with a bullish engulfing pattern. Stops are placed below the previous swing low, and targets are set at the 38.2% and 61.8% Fibonacci levels. Given the recent move from 0.0913 to 0.0937, a retest of the 0.0925–0.0926 zone could trigger a new long entry under this strategy. If confirmed by volume and candlestick structure, it may present a high-probability setup for traders with a short-term bias.