• Loopring price prediction shows that LRC is likely to climb above the upper boundary to continue the upward trend.
• LRC/USD is currently changing hands at around $0.318 as the coin touches the daily high at $0.327 with a market cap of $421.2 million.
• Bulls may now push the coin above the upper boundary of the channel to touch the nearest resistance level at $0.35.
The Loopring price prediction for today, January 24th, shows that LRC/USD is likely to continue its bullish sentiment and climb towards the upper boundary of the channel. Currently, the coin is changing hands at around $0.318, with a market cap of $421.2 million. This is a significant increase from the previous day’s price of $0.312, and traders are expecting the coin to move above the upper boundary of the channel to reach the nearest resistance level of $0.35.
Technical analysis of the daily chart reveals that the coin is hovering above the 9-day and 21-day moving averages, which indicates that the bulls are in control of the market. Additionally, the Relative Strength Index (RSI) has crossed into the overbought region, which further confirms the bullish sentiment in the market.
The Loopring price prediction for the near future shows that the coin may continue to move in an upward trend if the bulls can break the current resistance level of $0.35. If this happens, the coin may rise towards $0.38, $0.40, and $0.42, respectively. On the other hand, if the bears take control of the market, the coin may drop towards the lower boundary of the channel, which will put the coin’s price at $0.24, $0.22, and $0.20.
Overall, the Loopring price is likely to remain volatile in the near future, as the market is still in the early stages of recovery. Therefore, traders should be cautious while making any trading decisions and should stick to their predetermined risk management strategies.