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

• Price dipped from 0.0979 to 0.0956 before recovering to 0.0965 in 24 hours.
• Volume surged to 666,869 LRC in one candle, confirming a strong bearish move.
• RSI suggests oversold conditions, but price remains below key 200-day support.
• Bollinger Band contraction in the morning indicates low volatility before a sharp move.
• Downtrend confirmed by 20/50-period SMAs, with potential for further consolidation.

LRCUSDT opened at 0.0978 on 2025-09-10 at 12:00 ET, peaked at 0.0979, and dropped to a low of 0.0949 before closing at 0.0959 at 12:00 ET on 2025-09-11. Total volume reached 4.56 million LRC, with notional turnover of $437,845.

Structure & Formations

The 15-minute candles show a bearish breakdown below the 0.0971 level, forming a bearish engulfing pattern at 0.0971–0.0967. A key support level appears at 0.0964–0.0965, which the price has tested multiple times, forming a possible base for near-term consolidation. A doji at 0.0963 suggests indecision after a sharp drop. Resistance levels are currently at 0.0967–0.0971, with a larger structure indicating that a break above 0.0979 may attract further buyers.

Moving Averages

On the 15-minute chart, the 20-period SMA sits around 0.0967, and the 50-period SMA at 0.0965, suggesting a potential convergence of averages and a possible consolidation phase. On the daily chart, the 50-period SMA is at 0.0972, the 100-period at 0.0969, and the 200-period at 0.0965. Price is currently below all three, reinforcing a bearish trend.

MACD & RSI

The 15-minute MACD turned bearish around 0.0971, with a sharp crossover into negative territory aligning with a large bearish candle. RSI has bounced to 33, indicating a potential oversold condition. However, RSI remains below the 40 level, suggesting weak momentum and a possible test of lower supports.

Bollinger Bands

Bollinger Bands constricted in the early morning (04:00–05:00 ET), signaling a period of low volatility. The price then broke out to the downside, hitting the lower band at 0.0949 before rebounding. Currently, the price is within the lower half of the bands, indicating a bearish bias. A test of the lower band again may trigger further volatility.

Volume & Turnover

Volume spiked sharply on the 0.0964–0.0949 breakdown, peaking at 666,869 LRC. This volume confirmed the bearish move, indicating strong selling pressure. However, the rebound from 0.0955–0.0956 occurred on lower volume, suggesting that further downward movement may need confirmation.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 0.0979–0.0949 swing, key levels include 0.0967 (38.2%), 0.0963 (50%), and 0.0960 (61.8%). The price is currently consolidating near 0.0963, suggesting that the 50% level may act as a short-term pivot. A break below 0.0960 could target 0.0956–0.0955, while a bounce above 0.0967 could retest the 38.2% level.

Backtest Hypothesis

A potential strategy for this pair could involve shorting on a break below the 0.0963–0.0965 support zone, with a stop above 0.0967 and a target at 0.0955. This aligns with the bearish engulfing pattern and confirmation by both volume and MACD. A long position could be considered on a break above 0.0967, with a target at 0.0971 and a stop below 0.0964. The RSI’s oversold condition and the proximity to key Fibonacci levels suggest these strategies have a reasonable technical basis, though risk management remains critical due to high volatility.