Loopring (LRC) USD price live update with interactive visual and analytical tools to study chart patterns, price movements. The chart references the Loopring cryptocurrency – LRC USD price history from the Coinbase exchange.
About Loopring (LRC):
Loopring is an Ethereum Layer-2 scaling protocol. It allows for building high-throughput, low-cost, non-custodial AMMs, order book exchanges, and payment applications on Ethereum by leveraging Zero-Knowledge Proofs. Loopring protocol can settle up to 2,025 trades per second while guaranteeing the same level of security as the underlying Ethereum blockchain.
Helpful technical indicators to study Loopring (LRC) USD price movement:
Technical Analysis through the use of charts or volume analysis helps to forecast future Loopring (LRC) USD price trends, however, do remember always that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely Loopring (LRC) USD price movement.
Moving average convergence divergence (MACD)
MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line” is then plotted in addition to the MACD line which together functions as a trigger for buying or selling an asset – Loopring (LRC).
Traders may buy the Loopring token ‘LRC’ when the MACD crosses above its signal line (orange line) and sell, or short the Loopring (LRC) cryptocurrency when the MACD (blue line) crosses below the signal line.
Another MACD strategy is to look at which side of zero the MACD lines are. Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero – Above zero for a sustained period of time, and the trend is likely up or Below zero for a sustained period of time, and the trend is likely down.
Relative Strength Index (RSI)
RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100. Traditional usage of the RSI is that:
- RSI values of 70 or above indicate that an asset is becoming overbought and prime for a trend reversal or experience correction in the asset Loopring (LRC) USD price.
- An RSI reading of 30 or below indicates an oversold or undervalued condition.
Moving average (MA) of Loopring (LRC) USD price
MA is the average of the closing Loopring (LRC) USD price over a given number of periods. The 200-day simple moving average is one of the most-watched activities in the price charts by mostly all experienced traders. There are two basic signals in relation to the moving average:
- If the Loopring (LRC) USD price is above the X-day SMA, this signals a bullish movement.
- If the Loopring (LRC) price is below the X-day SMA, this signals a bearish movement.
MA(50,200) Crossover
Another important signal is a crossover between the 50-day and the 200-day moving averages.
- When the 50-day moving average (MA) crosses above the 200-day MA, it is called a golden cross. It signals that a new bullish Loopring (LRC) USD price trend is starting.
- When the 50-day MA crosses below the 200-day MA, it is known as the death cross (bearish crossover). This is a sign that a bear market may be starting.
On-balance volume (OBV)
OBV is another technical trading momentum indicator that uses volume flow to predict changes in the stock price. A rising price should be accompanied by a rising OBV; a falling price should be accompanied by a falling OBV.
- If OBV is rising and the price isn’t, then the price is likely to follow the OBV.
- In case the LRC price is rising and OBV is flat-lining or falling, the price may be near the top.
- If the Loopring token – LRC price against USD is falling and OBV is flat-lining or rising, then the price could be nearing a bottom.
Helpful Chart Patterns to remember while studying Loopring (LRC) USD Price movement
- Head and Shoulders
- Cup and Handle (bullish)
- Triangles (Symmetrical, Ascending and Descending)
- Double top and bottom [M (bearish) and W (bullish)]
- Triple Tops (bearish) & Bottoms (bullish)