Market Overview for Loopring/Tether (LRCUSDT) – 24-Hour Analysis

• LRCUSDT dropped from 0.0986 to 0.0938 over 24 hours, a bearish 5.0% decline.
• Volatility spiked after 19:00 ET amid a pullback attempt, then declined sharply after 03:00 ET.
• Volume surged in the 18:30–20:45 ET range before tapering, while turnover remained uneven.
• RSI bottomed below 25 before a short bounce, signaling potential oversold conditions.
• A large bearish engulfing pattern formed at 0.0985 on 18:30 ET, followed by a failed retest.

Price Action and Open/Close Dynamics

At 12:00 ET on 2025-09-18, LRCUSDT opened at 0.0975 and reached a high of 0.0986 before closing at 0.0938 at 12:00 ET on 2025-09-19. The 24-hour low was 0.0932. Total volume amounted to 15,036,140 and notional turnover (volume × price) stood at approximately 1,392,930 USDT, showing uneven participation but heightened activity during key price swings.

Structure & Formations

The price action displayed a bearish breakdown from the 0.0985–0.0982 resistance zone, confirmed by a bearish engulfing pattern and a failed retest at 0.0983. A large bearish candle at 0.0985 (18:30 ET) marked the pivot, with key support forming at 0.0968, 0.0955, and 0.0938. A potential bullish reversal may form near 0.0935–0.0932, though a breakdown below this level could extend the decline to 0.0920.

Technical Indicators

The 20-period and 50-period moving averages (15-min chart) were bearish across the session, with price consistently below both. RSI hit an oversold reading of 22 at 03:00 ET, suggesting a potential bounce, though it failed to close above 30. MACD turned negative early and remained below zero, reflecting weak bullish momentum. Volatility, as measured by Bollinger Bands, narrowed after 03:00 ET, hinting at a possible consolidation or breakout.

Volume and Turnover Patterns

Volume spiked around 18:30–20:45 ET with the breakdown and pullback, before tapering after 03:00 ET. Notional turnover mirrored this, with a sharp decline in late-night activity. A divergence formed between price and volume during the 03:00–04:30 ET bounce, suggesting weak conviction in the rally.

Fibonacci Retracements and Key Levels

Applying Fibonacci to the 0.0985–0.0932 swing, 0.0955 marks the 38.2% level, while 0.0946 represents 61.8%. A retest of 0.0955 could trigger a short-term bounce, but a close below 0.0946 could extend the move to 0.0935 and then 0.0920. On the 15-min chart, key levels near 0.0938 and 0.0942 may act as temporary support or resistance.

Backtest Hypothesis

Given the bearish engulfing pattern at 0.0985 and the subsequent breakdown to 0.0938, a short-term bearish strategy could be triggered with a stop above 0.0985 and a target at 0.0935. A buy-into-dip strategy at 0.0932–0.0935, with a stop at 0.0928 and a target at 0.0945, aligns with RSI oversold conditions and the 38.2% Fibonacci level. Backtesting this approach on similar past 15-minute setups would reveal its win rate and risk-reward profile.