Market Overview: Loopring/Tether (LRCUSDT) – 24-Hour Technical Summary

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• Loopring/Tether (LRCUSDT) traded in a tight range before breaking out above key resistance late in the 24-hour window.
• Momentum accelerated in the last 6 hours, with RSI moving into overbought territory, suggesting potential pullback risk.
• Volume surged during the breakout phase, confirming the strength of the move above $0.0965–0.0970.
• Volatility expanded after a consolidation phase, with Bollinger Bands widening to accommodate the upward thrust.
• A bullish engulfing pattern emerged near $0.0965–0.0968, signaling a shift in sentiment.

Loopring/Tether (LRCUSDT) opened at $0.0911 on 2025-09-17 at 12:00 ET and reached a high of $0.0976 before closing at $0.0974 on 2025-09-18 at 12:00 ET. The pair traded between $0.0901 and $0.0976, with total volume of 7,138,157.6 and turnover of $690,573.25 over the 24-hour period. The price action reflects a clear breakout from a consolidation phase, supported by rising volume and bullish candle formations.

Structure and formations show key support levels forming around $0.0963–0.0965 and a strong resistance cluster at $0.0970–0.0975. A bullish engulfing pattern emerged after a prolonged pullback to the 20-period moving average, indicating renewed buying pressure. The 50-period MA crossed above the 20-period line, forming a bullish “golden cross” on the 15-minute chart. On a daily basis, the 200-period MA remains above the current price, suggesting medium-term bearish bias but short-term momentum favoring longs.

MACD turned positive, with the line above the signal line, and the histogram expanding, reflecting strengthening bullish momentum. RSI crossed above 70 during the final hours, signaling overbought conditions and increasing the likelihood of a near-term correction. Bollinger Bands show expansion after a period of contraction, aligning with the breakout move. The price has moved above the upper band in the last 3 hours, indicating heightened volatility and the potential for a mean reversion.

Volume distribution shows a marked increase during the breakout from $0.0965–0.0970, with over $1.1 million in turnover recorded in the 3–4 AM ET window. This coincided with a sharp upward move from $0.0965 to $0.0974 on strong volume. Notional turnover spiked at $1.1M during the breakout, indicating strong participation from institutional or large-cap traders. Price and volume are aligned, reinforcing the validity of the breakout.

Fibonacci retracements on the most recent 15-minute swing from $0.0963 to $0.0976 show that the current price is at 100% of the retracement, with the 61.8% level at $0.0970–0.0972. If the pair pulls back, the 50% retracement at $0.0969–0.0970 may act as a key support level. On the daily chart, a recent swing from $0.0960 to $0.0975 sees LRCUSDT trading near the 100% level, suggesting the move could continue unless buyers fail to hold above $0.0970.

The backtesting strategy focuses on identifying bullish engulfing patterns near key moving average crossovers, particularly the 20/50-period crossover on the 15-minute chart. A long entry signal is triggered when the close of the engulfing candle is above the 20-period MA and volume spikes by 50% or more above the 20-period average. A stop-loss is placed below the low of the engulfing pattern, and a take-profit is set at the 1:2 risk-reward ratio. This strategy aligns with the observed breakout and engulfing pattern on LRCUSDT, where the trade entry would have occurred near $0.0965, with a stop below $0.0963 and a target near $0.0970–0.0975. Given the current structure and momentum, this setup could be retried for the next potential pullback.