Loopring Price Prediction 2022 – Will LRC Hit $1.5 Soon?
- Bullish LRC price prediction is $0.87 to $1.46.
- The LRC price might also reach $1.5.
- LRC bearish market price prediction for 2022 is $0.63.
In Loopring’s (LRC) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about LRC to analyze the future movement of the cryptocurrency.
Loopring Current Market Status
According to CoinGecko, the price of LRC is $0.84 with a 24-hour trading volume of $773,277,347 at the time of writing. However, LRC has increased nearly 7.2% in the last 24 hours.
Moreover, LRC has a circulating supply of 1,245,991,468 LRC. Currently, LRC trades in cryptocurrency exchanges such as Binance, OKX, Hotcoin Global, Mandala Exchange, and CoinTiger.
What is Loopring (LRC)?
Loopring (LRC) is an ERC-20 token, it is a self-possessed open-sourced, audited, and non-custodial exchange protocol. Loopring aims to allow anyone to build non-custodial, order book-based exchanges on Ethereum by leveraging zero-knowledge proofs. Loopring’s performance is sufficient for professional traders and market makers to deploy algorithmic strategies and other automated trading bots.
Loopring (LRC) Price Prediction 2022
Loopring holds the 93rd position on CoinGecko right now. LRC price prediction 2022 is explained below with a daily time frame.
A descending channel is a pattern formed from two downward trend lines drawn above and below the price indicating the resistance and support levels. It is a bearish pattern defined by a trend line that supports a series of lower lows and a diagonal resistance level that connects low highs.
Currently, LRC is in the range of $0.83. If the pattern continues, the price of LRC might reach the resistance level of $1.23. If the trend reverses, then the price of LRC may fall to $0.68.
Loopring (LRC) Support and Resistance Level
The below chart shows the support and resistance level of LRC.
From the above daily time frame, it is clear the following are the resistance and support levels of LRC.
- Resistance Level 1 – $0.87
- Resistance Level 2 – $0.99
- Resistance Level 3 – $1.21
- Resistance Level 4 – $1.46
- Support Level 1 – $0.76
- Support Level 2 – $0.63
The charts show that LRC has performed a bullish trend over the past month. If this trend continues, LRC might run along with the bulls overtaking its resistance level at $1.46.
Accordingly, if the investors turn against the crypto, the price of the LRC might plummet to almost $0.63, a bearish signal.
Loopring Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of LRC is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of LRC lies on the cutoff line, indicating stronger participants in the current trend.
More so, the LRC’s Moving Average (MA) is shown in the chart above. Currently, LRC is in a bearish state. Notably, the LRC price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of LRC at any time.
Meanwhile, the relative strength index (RSI) of the LRC is at level 54.71. This means that LRC is in a neither overbought nor oversold state. However, this means a major price reversal of LRC may occur in the upcoming days. So, traders need to trade carefully.
Loopring Price Prediction 2022 — ADX, RVI
Let us now look at Loopring’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Loopring. Currently, LRC lies in the range of 33.2, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of LRC. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of LRC lies below the 50 levels, indicating that the direction of volatility is low. In fact, LRC’s RSI is at 54.71 level thus confirming a potential buy signal.
Comparison of LRC with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Loopring.
From the above chart, we can identify the trend of the ETH, BTC, and LRC is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and LRC also increases or decreases respectively.
Conclusion
With continuous improvements in the Loopring network, we can say that 2022 is a good year for LRC. For this reason, the bullish price prediction of Loopring in 2022 is $1.46. On the other hand, the bearish LRC price prediction for 2022 is $0.63.
Furthermore, with the advancements and upgrades on the LRC ecosystem, the performance of LRC would help to reach above its current all-time high (ATH) $1.21 very soon. But, it might also reach $1.5 if the investors believe that LRC is a good investment in 2022.
FAQ
Loopring is a software that runs on Ethereum, aimed at promoting a global network of users to run a platform that enables the creation of new types of crypto asset exchanges.
LRC has listed on many crypto exchanges which include Binance, OKX, Hotcoin Global, Mandala Exchange, and CoinTiger.
With the ongoing developments and upgrades within the LRC platform, it has a high possibility of reaching its ATH soon.
On Nov 10, 2021, LRC reached its new all-time high (ATH) of $3.75.
Loopring (LRC) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of LRC in the past few months, LRC is considered a good investment in 2022.
Loopring (LRC) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Loopring (LRC) will hit $1.5 soon.
Loopring (LRC) price is expected to reach $3.5 by 2023.
Loopring (LRC) price is expected to reach $6.8 by 2024.
Loopring (LRC) price is expected to reach $7.2 by 2025.
Loopring (LRC) price is expected to reach $8 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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