Loopring is Trading -7.66% Below Our Price Prediction for Feb 06, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Loopring is up 9.41% today against the US Dollar
• LRC/BTC increased by 8.01% today
• LRC/ETH increased by 8.40% today
• Loopring is currently trading 7.66% below our prediction on Feb 06, 2023
• Loopring gained 87.22% in the last month and is down -64.75% since 1 year ago

LRC price is expected to rise by 8.29% in the next 5 days according to our Loopring price prediction

Loopring price today is trading at $ 0.349282 after gaining 9.41% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 6.88% in the same time period. LRC performed well against BTC today and recorded a 8.01% gain against the world’s largest cryptocurrency.

According to our Loopring price prediction, LRC is expected to reach a price of $ 0.378244 by Feb 06, 2023. This would represent a 8.29% price increase for LRC in the next 5 days.

LRC Price Prediction Chart

Buy/Sell Loopring

What has been going on with Loopring in the last 30 days

Loopring has been displaying a positive trend recently, as the coin gained 87.22% in the last 30-days. The medium-term trend for Loopring has been bullish, with LRC increasing by 33.18% in the last 3 months. The long-term picture for Loopring has been negative, as LRC is currently displaying a -64.75% 1-year price change. On this day last year, LRC was trading at $ 0.990872.

Loopring reached its all-time high price on Nov 10, 2021, when the price of LRC peaked at $ 3.77. The current LRC cycle high is $ 0.365661, while the cycle low is at $ 0.185941. LRC has been displaying high volatility recently – the 1-month volatility of the coin is at 17.77. Loopring recorded 23 green days in the last 30 days.

Loopring technical analysis for today - Feb 01, 2023

The sentiment in the Loopring markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.317715, $ 0.286615 and $ 0.265726, while $ 0.369705, $ 0.390594 and $ 0.421694 are the key resistance levels.

Bullish sentiment for Loopring

23 indicators are currently signaling a bullish prediction for Loopring, while 7 indicators are showing a bearish forecast. With 77% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Loopring.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 56 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Loopring moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Loopring is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Loopring is at 73.25, suggesting that LRC is currently overbought.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Loopring over the last 50 days. Currently, Loopring is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the LRC closing price for the last 200 days. LRC is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Loopring prediction

After considering the above factors, we can conclude that the current forecast for Loopring price prediction is Bullish. LRC would have to increase by 8.29% to hit our $ 0.378244 target within the next five days. Moving forward, it will be important to monitor the LRC market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Loopring price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.