Loopring (LRC/USD) Price Analysis: Can Resistance Hold?

Summary

The MACD line is above the signal line, which is a bullish sign. The 12 day EMA is above the 26 day EMA, which is a bullish sign. Resistance 1: 0.0337, Resistance 2: 0.0339, Resistance 3: 0.0342, Support 1: 0.0331, Support 2: 0.0329, Support 3: 0.0326.
[coinmc type=”chart” coin=”LRC”]

Pivots

Loopring is below yesterday’s pivot point of 0.0334. If bears continue to sell off, we could see prices slump as low as 0.0326.

MACD

As a sign of strength, the MACD is above the signal line. Momentum is therefore in the bulls favor.
The Moving Average Convergence Divergence (MACD) helps to identify turning points in the market. A low or high MACD reading is common, however, in strong down or uptrends.

RSI

RSI is heading north at 54.7. This signals substantial momentum which could lead to higher prices. Overbought values are also common in appreciable uptrends.

ATR

The average true range (ATR) measures volatility. As a banded oscillator, the ATR reflects how motivated buyers and sellers are in their positions. A breakout or trendline violation can be confirmed with a high reading on the ATR.

Prediction

Tomorrow’s high and low can be calculated using the current period’s high and low. Prices for tomorrow: high, 0.0336, low, 0.0331.