Market Overview: Loopring (LRCUSDT) 24-Hour Technical Summary

• Loopring (LRCUSDT) traded in a volatile range between $0.0862 and $0.0938, closing near the mid-range at $0.0871.
• A large bearish engulfing pattern at the 19:45 ET candle suggested short-term bearish momentum amid high volume.
• Relative strength index (RSI) briefly dipped into oversold territory, indicating potential support near $0.0862.
• Bollinger Band contraction during late ET hours hinted at a potential breakout or reversal.
• Volume surged at key reversal points, confirming trend exhaustion at highs and strength at lows.

Loopring (LRCUSDT) opened at $0.0896 on 2025-08-24 at 12:00 ET, reaching a high of $0.0938 and a low of $0.0862 before closing at $0.0871 on 2025-08-25 at 12:00 ET. Total volume amounted to 17.09 million LRC, with a notional turnover of approximately $1.55 million over the 24-hour period.

Structure & Formations

The 15-minute chart revealed a key bearish engulfing pattern at 19:45 ET, with the candle opening at $0.0934 and closing at $0.0915 on heavy volume. This suggests bearish exhaustion near the $0.0938 level. A smaller bullish engulfing pattern at 02:15 ET indicated a potential short-covering rally. The price action formed a broad range with multiple tests of support at $0.0862–$0.0868 and resistance at $0.0895–$0.0905. A doji formed at $0.0894 at 01:45 ET, signaling indecision in a key consolidation phase.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart crossed multiple times, showing no clear trend but indicating a range-bound market. The 50-period moving average currently sits near $0.0887, slightly above the 20-period at $0.0883. On the daily chart, the 50-period MA is above the 100-period MA, but the 200-period MA has not yet crossed either, suggesting a potential sideways bias in the near-term.

MACD & RSI

The MACD line crossed below the signal line during the bearish engulfing candle, confirming bearish momentum. The histogram showed a shortening of the bearish impulse by 02:00 ET, hinting at potential stabilizing forces. RSI dropped into oversold territory near $0.0862, indicating potential short-term support. However, the RSI has not confirmed strong bullish momentum, suggesting traders should remain cautious of further consolidation before a breakout.

Bollinger Bands

Bollinger Bands contracted notably between 21:00 ET and 00:30 ET, suggesting low volatility and a possible breakout. Price tested the upper band at $0.0938 and the lower band at $0.0862, with the latter acting as a temporary floor. The current price of $0.0871 sits just above the 20-period moving average and within the Bollinger Band range, suggesting the market remains in a defined trading channel.

Volume & Turnover

Volume spiked during key turning points, especially during the bearish engulfing candle at 19:45 ET (volume: 2.37 million LRC) and at 22:30 ET when price dropped to $0.0897 (volume: 365k LRC). These spikes confirmed bearish exhaustion at highs and bullish strength at lows. Notional turnover mirrored the volume profile, with the largest trades occurring during reversal candles. However, divergence in volume and price during the 02:00–03:30 ET period suggests a possible false breakout or consolidation phase.

Fibonacci Retracements

Applying Fibonacci retracements to the recent $0.0862–$0.0938 swing, key levels of 38.2% ($0.0891) and 61.8% ($0.0872) have been tested multiple times. Price is currently hovering near the 61.8% level, which could act as a temporary support or resistance depending on the direction of the next breakout attempt. These levels provide key reference points for both short-term traders and swing traders.

Over the next 24 hours, Loopring could test key Fibonacci levels and attempt a breakout from the current trading range. However, traders should remain cautious as volatility remains moderate and trend confirmation is yet to be seen. A break below $0.0862 or above $0.0895 with strong volume would provide clearer signals, but until then, the market remains range-bound with mixed momentum.