Loopring Soars 22.92%, Bulls Rally To $0.438 – Will It Sustain?

• Loopring (LRC) is currently trading at $0.4318 and is demonstrating a bullish sentiment on the charts.
• Technical indicators are showing a positive trend in price momentum and the asset may break past the next resistance level of $0.4152.
• If it holds, it will test the next resistance level of $0.4385 and if there is a slight pullback, then the support level of $0.353791 will be crucial to sustaining its current positive momentum.

Loopring Price Analysis

Loopring (LRC) is currently trading at $0.4318, exhibiting a bullish sentiment on the chart with 22 green days within the last 30 days which represents a 73% success rate and its price has increased by 22.92% in the last 24 hours. The token has touched new highs consecutively for three days now, representing its best form since the start of this year. LRC’s trading volume has also increased by 102.01%, reaching up to $242 million.

Technical Indicators

The 50-day Simple Moving Average (SMA) for LRC has displayed a buy signal since January 12th, 2023, while it remains above its 200-day SMA indicating a long-term bullish sentiment for this asset. The Relative Strength Index (RSI) is 83.22 which puts it into an overbought zone while MACD shows divergence with both lines being well above their signal line.

Support & Resistance Levels

The support levels for Loopring are at $0.2895, $0