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

• Loopring/Tether (LRCUSDT) traded in a tightening range near 0.086–0.0875, with bearish momentum in final hours
• Key support at 0.0865–0.0862 tested repeatedly; 0.0873 resistance failed as sellers retook control
• Volume spiked near 0.0866–0.0871 but failed to confirm bullish or bearish bias
• RSI overbought levels (80) not reached, indicating no strong reversal signals
• Final 15-minute candle closed bearish, with a near 0.5% drop from 12:00 ET to 12:00 ET-1

LRCUSDT opened at 0.0879 on 2025-10-06 at 12:00 ET and closed at 0.0865 by 12:00 ET on 2025-10-07, with a high of 0.0882 and a low of 0.0835. The pair traded in a range-bound pattern throughout the session, with price consolidating around 0.086–0.0875 before a sharp final drop. Total volume reached 4.4M, and notional turnover was approximately 358,400 USD, with the majority of trading activity occurring between 0.085 and 0.088.

The structure of the last 24 hours shows a key support zone forming around 0.0865–0.0862, which was tested multiple times during the session, especially in the overnight hours. A notable bearish engulfing pattern emerged around 0.0868–0.0864, signaling a potential shift in sentiment. On the flip side, resistance at 0.0873 failed to hold, with sellers stepping in after brief attempts at a rebound. A bullish hammer near 0.0866–0.0868 in early ET hours provided a temporary reprieve, but was quickly rejected.

The 20-period and 50-period moving averages on the 15-minute chart remained above the price for most of the session, reinforcing a bearish bias. By the final hours, the 50-period line dipped below the 20-period, signaling a possible short-term bearish divergence. RSI remained below 50 for much of the session, indicating weak momentum. The indicator approached 40 in the last few candles, hinting at oversold conditions, but failed to trigger a bounce. MACD showed negative divergence in the final hours, with a bearish crossover and declining histogram.

Bollinger Bands reflected volatility expansion during the late overnight hours and contraction in the morning, with price hovering near the lower band for much of the session. This suggests bearish pressure and potential continuation of the downtrend. Volume spiked during key price levels (e.g., 0.0866–0.0871) but failed to confirm a breakout. A notable divergence appeared between price and volume in the final 2 hours, as price dropped sharply while volume remained moderate, raising questions about the strength of the move.

The Fibonacci retracement levels for the most recent swing (0.0882–0.0835) showed 38.2% at 0.0863 and 61.8% at 0.0852. These levels aligned with key support clusters, which were tested but not decisively broken. Daily chart indicators like the 50-period and 200-period moving averages are neutral to slightly bearish, with the price currently below both lines, suggesting continued pressure unless there is a reversal in the short term.

Backtest Hypothesis

Given the observed bearish momentum, support testing, and RSI divergence, a potential backtest strategy could be to short LRCUSDT with a stop-loss above 0.0875 (key resistance) and a target near 0.0850 (61.8% retracement level). A long-biased trade could be considered only if price breaks above 0.0875 with strong volume confirmation, with a stop below 0.0862. These setups align with the technical profile, making them suitable for further backtesting with historical data.