Summary
• Price formed bearish engulfing and reversal patterns after reaching a 24-hour peak above 0.054.
• Volatility expanded significantly in the final hours, with volume spiking to over 880k near session close.
• RSI and MACD suggest oversold and overbought extremes, with momentum shifting toward the downside late in the session.
• Bollinger Bands show price retesting the lower band near 0.0507, potentially forming a short-term support level.
• Turnover diverged from price during the early part of the session, hinting at weak conviction in the initial rally.
Market Overview
At 12:00 ET on 2026-01-13, Loopring/Tether (LRCUSDT) opened at 0.0517, traded as high as 0.0544, as low as 0.0504, and closed at 0.0538. Total volume was 8.8 million, with a turnover of 472.78.
Structure & Trends
Price saw a strong rally into the afternoon with a high of 0.0544, followed by a pullback into the 0.0535–0.054 range. Key resistance appeared near 0.054, with support forming around 0.0535 and 0.0527.
A bearish engulfing pattern formed after 15:00 ET as the asset retraced from its intraday peak.
Technical Indicators
MACD showed a bearish crossover in the final hours, and RSI hit overbought territory near 75, indicating a likely correction. Bollinger Bands widened as volatility increased, and price remained outside the upper band until the close, suggesting elevated tension in the market.
Volume and Turnover
Volume spiked sharply during the last two hours of the session, particularly after 14:00 ET, when over 880k units changed hands. Turnover also surged, confirming the bearish reversal. Earlier in the session, volume was strong during the rally but failed to confirm bullish conviction, pointing to mixed sentiment.
Projection and Risk
Price may test the 0.0535–0.0538 range as key support and resistance in the next 24 hours. A break below 0.0535 could trigger a test of 0.0527, while a retest of 0.054 could see further consolidation. Investors should remain cautious about volatility and potential divergences in volume.
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