Market Overview for Loopring/Tether (LRCUSDT)

• Price declined 1.5% over 24 hours, closing near 0.0918 after breaking down from key support
• RSI signaled oversold conditions briefly, but volume did not confirm a bounce
• Volatility expanded in early session before tapering; Bollinger Bands signaled consolidation
• A bearish engulfing pattern formed during the overnight low, suggesting short-term bearish bias
• Turnover spiked during sharp selloff in early morning ET, aligning with price weakness

Loopring/Tether (LRCUSDT) opened at 0.0938 on 2025-09-20 at 12:00 ET and closed at 0.0918 24 hours later, with a high of 0.0940 and low of 0.0912. Total volume for the period was 5,366,909.0, with a notional turnover of $486,300. The price action showed a steady bearish drift, especially after the overnight sell-off.

Structure & Formations

The 15-minute chart revealed a key bearish structure around 0.0930–0.0935 as price broke through the support zone and failed to rebound. A bearish engulfing pattern formed at 0.0917–0.0919 during the early morning, confirming a shift in momentum. The area between 0.0934 and 0.0937 is now key resistance to watch for potential bounces or breakdowns. A doji formed near 0.0937, indicating indecision among buyers and sellers.

Moving Averages

The 15-minute chart showed the 20-period and 50-period EMAs trending lower, reinforcing the bearish momentum. On the daily timeframe, the 50-period EMA is approaching 0.0950, acting as a long-term resistance level. Price appears to be trending below all three key moving averages (50, 100, 200), suggesting continued bearish pressure for at least the short-term.

MACD & RSI

MACD remained negative throughout the session, with the histogram expanding during the sharp selloff in the early morning. RSI hit a low of 32 in the 5–6 AM ET timeframe, signaling oversold conditions, but the price failed to reverse from that level. This suggests weak conviction among buyers. A potential rebound could be expected if RSI rises above 50 and volume increases.

Bollinger Bands

Volatility expanded during the overnight selloff, with price breaking the lower Bollinger band at around 0.0915. Since then, volatility has contracted, and price has been trading within the band. If the 0.0912–0.0915 level holds, it could act as a near-term support zone. A breakout below that would signal a deeper correction.

Volume & TurnoverVolume spiked during the 9–10 PM ET timeframe as price fell from 0.0937 to 0.0928. The largest 15-minute volume bar occurred at 0.0931 with a volume of 106,248.0, aligning with a significant price drop. Notional turnover increased during the morning ET sell-off, confirming the bearish bias. However, volume was mixed during the attempted rally in the afternoon and evening.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute move from 0.0940 to 0.0912, key levels include 0.0927 (38.2%) and 0.0921 (61.8%). Price bounced off 0.0921 briefly, but failed to hold. On the daily chart, the 0.0935–0.0937 area corresponds to the 23.6% retracement of a larger bearish move. A sustained break above 0.0937 could trigger a retracement back to 0.0940.

Backtest Hypothesis

A potential backtest strategy could be to look for a retest of the 0.0921–0.0925 Fibonacci level with a bullish reversal pattern (e.g., a hammer or bullish engulfing) and a closing above the 20-period EMA as a confirmation. If these conditions are met, a short-term long trade could be entered with a stop-loss below the recent low at 0.0917. The target would be 0.0933, followed by 0.0937. This setup would aim to capture a retracement in a bearish trend while managing risk with a defined stop.