Market Overview for Loopring/Tether (LRCUSDT): 2025-09-22 to 2025-09-23

• Loopring/Tether (LRCUSDT) fluctuated between $0.082 and $0.0845 over the past 24 hours, closing near intraday highs.
• Key resistance at $0.0842–$0.0845 and support at $0.0832–$0.0835 were tested multiple times with mixed follow-through.
• Volume spiked on the 23rd as price broke above $0.084, confirming a potential short-term bullish breakout.
• RSI remained in overbought territory for part of the session, suggesting caution ahead of possible pullbacks.
• Bollinger Bands contracted overnight before expanding, indicating heightened volatility likely to persist.

Overview and Daily Performance

Loopring/Tether (LRCUSDT) opened at $0.0837 on 2025-09-22 at 12:00 ET and reached a high of $0.0845 before closing at $0.0842 on 2025-09-23 at 12:00 ET. Total trading volume amounted to 9,372,319.0 units, with a notional turnover of approximately $779,000. The pair exhibited a choppy yet directional bias to the upside, especially in the early morning and late trading hours.

Structure and Key Levels

Price action showed a strong test of the $0.0842–$0.0845 resistance cluster, particularly during the 09:15–09:30 and 14:15–14:30 ET periods. A bullish engulfing pattern formed around 06:30–06:45 ET as the candle closed near the high. On the downside, support levels at $0.0832 and $0.0835 held on multiple attempts. A key bearish doji appeared at $0.0835–$0.0837 during the 19:30–19:45 ET session, suggesting potential indecision.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages were in close alignment, indicating a potential consolidation phase. The 50-period MA acted as dynamic support during the 03:00–05:00 ET pullbacks. On the daily chart, the 50- and 100-period MAs are converging near $0.0838–$0.084, supporting a breakout scenario. Momentum, as reflected by the MACD, turned positive in the early morning hours and stayed bullish, with RSI peaking at overbought levels around $0.0844 before pulling back slightly.

Volatility and Fibonacci Implications

Bollinger Bands contracted overnight and expanded sharply during the 09:00–09:30 and 14:00–14:30 ET sessions, signaling heightened volatility. Price spent significant time outside the upper band during the 06:30–07:00 ET period, suggesting overbought conditions. Fibonacci levels drawn from the $0.082–$0.0845 range showed key retracement levels at $0.0833 (38.2%) and $0.0839 (61.8%), both of which were respected or tested during the session.

Volume and Turnover Divergence

Trading volume surged above 500,000 units during the 06:30–06:45 and 09:15–09:30 ET sessions, confirming the bullish breakout. However, during the 19:30–20:00 ET bearish pullback, volume remained relatively low, indicating a weak rejection of key support levels. Notional turnover peaked at over $1.2 million during the 06:30–06:45 ET session. Divergences were observed between price and volume during the 03:15–03:30 ET pullback, suggesting potential exhaustion in the bearish move.

Backtest Hypothesis

The backtest strategy described involves a breakout pattern using 20-period and 50-period moving averages as dynamic levels. A long entry would be triggered when price closes above both moving averages with a 15-minute candle showing a bullish engulfing pattern and confirmed by a volume spike. The strategy would target a 0.5% to 1% profit on the first 38.2% Fibonacci level at $0.0839–$0.0842 and place a stop-loss below the 61.8% retracement level at $0.0835–$0.0837. The most recent 06:30–06:45 ET candle aligns closely with this strategy, offering a valid setup for testing.