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

Summary
• Price declined from $0.0508 to $0.0493 amid mixed volume and bearish momentum.
• A bearish engulfing pattern and RSI oversold conditions signal potential short-term support testing.
• Volatility expanded early before contracting near the close, with volume skewed to the downside.

Market Overview

At 12:00 ET on 2025-12-07, Loopring/Tether (LRCUSDT) opened at $0.0503 and traded between $0.0508 and $0.0478 during the 24-hour period, closing at $0.0493. The pair recorded a total volume of 4,959,891.0 and turnover of approximately $243,828.

Structure & Moving Averages

The price formed a bearish bias with a key resistance at $0.0505 and support at $0.0493. A bearish engulfing pattern formed near $0.0504, while 5-minute 20-period and 50-period moving averages diverged with price, confirming downward momentum. Daily 50/200 MA support was tested during the selloff.

Momentum & Oscillators

The RSI declined into oversold territory below 30, suggesting a potential bounce near $0.0493. MACD turned negative with a bearish crossover, amplifying bearish momentum.

Volatility & Bollinger Bands

Bollinger Bands widened early as the price broke below the lower band at $0.0495. Volatility later contracted as the price moved within the bands by the close, indicating a potential consolidation phase.

Volume & Turnover

Downside volume surged in the 14:30–16:30 ET window, confirming the bearish reversal. Turnover remained in line with volume, with no major divergences.

Fibonacci Retracements

The 61.8% retracement level on the 5-minute chart held at $0.0496, which was later broken, signaling deeper bearish potential. The 38.2% level at $0.0499 acted as a minor resistance during the rebound.

The price appears to be testing a critical support zone near $0.0493. A break below this level could trigger further downside toward $0.0485. Investors should remain cautious of increasing volatility and potential short-term reversals.