Market Overview for Loopring/Tether (LRCUSDT)

• Price surged to a 24-hour high of 0.0944, driven by a bullish breakout from consolidation.• Strong volume expansion observed in the first 3 hours post-16:00 ET, confirming price direction.• RSI reached overbought territory, suggesting potential for near-term correction.• Bollinger Bands showed moderate volatility, with price lingering near the upper band during key highs.

Loopring/Tether (LRCUSDT) opened at $0.0864 on 2025-10-08 12:00 ET, peaked at $0.0944, and closed at $0.0901 on 2025-10-09 12:00 ET, trading within a 24-hour range of $0.0861 to $0.0944. The pair recorded total volume of 52,197,259.0 and a notional turnover of $4,437.56 during the same period.

Structure & Formations

Over the 24-hour period, LRCUSDT demonstrated a clear bullish breakout from a consolidation phase following the 18:00 ET candle, which formed a strong bullish engulfing pattern at 0.0931. This was followed by a series of higher highs and higher lows, suggesting a shift in short-term sentiment. Key support levels were identified at 0.0895 and 0.0883, both of which were tested and held. A significant resistance level appears to be forming near 0.0910, where the price has bounced multiple times. A morning doji at 00:15 ET (0.0895) indicated indecision, while a large bullish candle at 18:00 ET confirmed the breakout.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed above the price level of 0.0900 shortly after 17:30 ET, signaling a potential continuation of the bullish trend. The daily chart showed the price trading above the 50-period MA at 0.0885 and below the 200-period MA at 0.0865, indicating a mixed technical bias. The 100-period MA at 0.0880 acts as a dynamic support. These levels suggest the market is in a transitional phase, where near-term momentum favors the bulls but the broader trend remains neutral.

MACD & RSI

The 15-minute MACD crossed into positive territory around 18:00 ET, aligning with the bullish breakout and confirming increased momentum. RSI reached an overbought level of 72 during the 18:00–19:30 ET window, suggesting a high probability of a near-term pullback. However, the RSI did not form a bearish divergence with the price, indicating the bulls remain in control. Daily RSI stood at 55, suggesting a balanced market with room for further movement in either direction, depending on news or order flow.

Bollinger Bands

Volatility increased significantly during the breakout phase, with the upper Bollinger Band reaching 0.0944 and the lower band at 0.0860. The price remained near the upper band between 18:00 and 20:00 ET, suggesting a strong short-term bullish trend. After 20:00 ET, the price retraced toward the middle band, indicating a potential equilibrium phase. The Bollinger Band width expanded by approximately 20% during the breakout, highlighting a period of heightened volatility.

Volume & Turnover

Volume spiked sharply after 18:00 ET, with the 18:00–19:00 ET window recording the highest volume of 6,656,447. This period also saw the largest notional turnover at $589.58, confirming the strength of the breakout. The volume profile was skewed to the long side, with most candles closing above their midpoints. A divergence between price and volume was observed in the 21:30–22:00 ET window, where volume declined while price continued to rally slightly, indicating some profit-taking.

Fibonacci Retracements

The recent 15-minute swing from 0.0861 to 0.0944 is being retraced to the 61.8% level at 0.0910–0.0915, which has acted as a key resistance and potential reversal point. The 38.2% retracement level at 0.0920 was briefly tested but rejected. On the daily chart, a key 61.8% retracement level of a prior bearish move (not in the dataset) may form a potential long-term target if bullish momentum continues. Traders are likely watching these levels for trade entries and exits.

Backtest Hypothesis

Based on the observed bullish breakout and the confirmation via volume, MACD, and RSI, a potential backtest strategy could involve a long entry at the close of the 18:00 ET candle (0.0930), with a stop-loss placed below 0.0895 (the most recent support) and a take-profit at 0.0944 or 0.0950. This setup would capture the momentum-driven move while managing risk on the downside. Given the RSI overbought condition and the presence of a 61.8% retracement level as a potential target, the expected holding period is between 2–4 hours. If confirmed by a close above 0.0940, the trade could be extended into the next 6-hour window.