Market Overview for Loopring/Tether (LRCUSDT) on 2025-10-03

• LRCUSDT posted a 24-hour high of $0.0904 before retracing to a close near $0.0875, indicating moderate bearish pressure.
• Price formed a bullish engulfing pattern at $0.0895–$0.0901, but failed to confirm with follow-through volume.
• Volatility expanded as the 15-minute range reached $0.0022, with increased trading activity between 04:00–06:00 ET.
• RSI bottomed near 35, suggesting a potential oversold condition, though momentum remains weak.
• Total volume hit 13.4 million LRC and turnover reached $1.16 million, showing moderate but uneven demand.

LRCUSDT opened at $0.0883 on October 2, 2025, hit a 24-hour high of $0.0904, and closed at $0.0875 as of 12:00 ET on October 3. The total volume traded was 13,449,060 LRC, with notional turnover reaching $1.16 million, reflecting mixed investor sentiment and moderate volatility.

Price formed a key bullish engulfing pattern during a morning push to $0.0904, with a large candle body capturing the previous session’s high. However, this was followed by a sharp consolidation phase, as selling pressure emerged around $0.0900. A doji formed at $0.0890, signaling indecision and a potential short-term reversal. Key resistance appears to be forming near $0.0895–0.0900, while support is consolidating around $0.0875–0.0878.

The 20-period and 50-period moving averages on the 15-minute chart are currently converging below the price, with the 50-period MA acting as a short-term resistance. On the daily chart, the 50-period MA is slightly below the current price, suggesting the pair may be consolidating after a recent bounce. No major crossovers have occurred in the past 24 hours, indicating a lack of clear trend strength.

Relative Strength Index (RSI) bottomed near 35, which is typically considered an oversold level, but has since rebounded without forming a strong bullish divergence. MACD lines crossed negatively in the late hours of October 2, signaling bearish momentum. The indicator remains in negative territory, suggesting bearish pressure could continue.

Bollinger Bands have widened significantly in the morning trading session, with price reaching the upper band at $0.0904 before retreating. The recent move back toward the lower band at $0.0875 suggests a potential oversold bounce, but volatility remains high. This expansion is often seen during periods of uncertainty or ahead of a potential breakout attempt.

Fibonacci retracement levels from the key swing high of $0.0904 and swing low of $0.0875 have identified 0.618 at $0.0890 and 0.382 at $0.0888 as potential support/resistance levels. Price has bounced off the 61.8% level, suggesting this area is holding importance in the short term.

Volume and turnover data showed a sharp spike during the afternoon of October 2, as price approached $0.0904, followed by a rapid drop in activity as the price rolled over. This divergence suggests the bullish move lacked strong follow-through. In the early morning of October 3, volume picked up again during the retest of $0.0875, indicating renewed interest in the lower end of the range.

Looking ahead, LRCUSDT may test $0.0875 again as a key support level. A break below that would open the next support at $0.0873–0.0872. On the flip side, a strong bullish confirmation above $0.0895 could reignite short-term optimism. However, investors should be cautious of the current bearish momentum and risk of continued consolidation.

Backtest Hypothesis
A potential strategy could involve a short bias on a break below $0.0875, with a stop above $0.0885 and a target at $0.0870. The recent RSI divergence and MACD bearish crossover support this approach. Conversely, a long entry could be considered if price closes above $0.0890 with increased volume, as this would validate the bullish engulfing pattern and suggest a potential retracement toward $0.0904.