Loopring Price(LRC)

The global cryptocurrency market cap now stands at $1.04T, up by 3.78% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $20,157 and $21,300 over the past 24 hours. As of 04:00 PM (UTC) today, BTC is trading at $20,853, up by 2.97%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include BAND, LRC, and YGG, up by 82%, 42%, and 31%, respectively.Top stories of the day:CBDCs Could Reduce FX Transaction Speeds to 10 Seconds, NY Fed SaysFirst Mover Americas: Bitcoin Higher After Jobs Report and Arweave's Meta EffectUS Added 261K Jobs in October, Topping Expectations for 200KBlockchain Startup Elrond Rebrands to Focus on MetaverseTerra's Do Kwon May Be in Europe: ReportBUIDL Market In Full SwingRead Binance Research's Weekly Market Highlights report here.MATIC Rally Gathers Speed as Meta Announces Polygon-Powered NFTs, Chart Signals Golden CrossAptos CEO Defends 'Fair' Tokenomics That Prompted Community BacklashNFTs Still In ‘Great Demand’ as Unique Traders Rise 18% in Oct: DappRadarTwitter Halts Work on Crypto Wallet: Report; Dogecoin Drops 4%Market movers:LUNA: $2.4907 (+3.35%)ETH: $1626.39 (+5.44%)BNB: $349.5 (+6.59%)XRP: $0.4901 (+7.53%)DOGE: $0.12309 (-6.17%)ADA: $0.4099 (+4.17%)SOL: $33.16 (+6.28%)MATIC: $1.118 (+17.94%)DOT: $6.76 (+4.81%)SHIB: $0.00001233 (+2.07%)Top gainers on Binance:BAND/BUSD (+82%)LRC/BUSD (+42%)YGG/BUSD (+31%)

Loopring price analysis shows a firm uptrend.LRC is likely to break the $0.40 key resistance level.Loopring current trading price is $0.3759.Loopring price analysis show LRC opened the daily chart trading at an intraday low of $0.29, experiencing a major price increase after a prolonged bull run. The LRC/USD pair has since gained by over 40%, breaking the key resistance level at $0.40 and currently trading at $0.3759 at press time.Loopring price action:Coinmarketcap The uptrend is supported by strong buying pressure seen on the daily chart and the RSI indicator telling us that LRC is currently in overbought territory at a reading of 76.Some traders may see this as a signal to sell, however, with the overall market sentiment still bullish it is likely that LRC will break the $0.40 resistance level and continue its uptrend.The price of Loopring is well above the MA50 and MA200 daily moving averages, indicating that the uptrend is likely to continue. The Fibonacci retracement tool also shows potential for LRC to reach the 23.6% level at $0.47, a further upside of over 20%.The technical analysis on the daily timeframe shows LRC/USD pair formed a bullish engulfing candle with a high volume, indicating that there is strong buying pressure. The Relative Strength Index (RSI) indicator is currently in overbought territory at a reading of 76, suggesting that the uptrend may continue but traders should also be cautious of a potential pullback.LRC/USD daily chart, source: TradingView Loopring price analysis on the 4-hour and hourly time indicates Loopring may face resistance at the $0.395 and $0.40 levels. It is also important to note that in the event of a market-wide correction, Loopring may experience a pullback toward key support levels at $0.35 and $0.30 respectively. The MACD indicator is currently showing a bullish crossover and the RSI indicator shows LRC/USD still has room to continue its uptrend.LRC/USD 4-hour chart, source: TradingView To sum up our Loopring price analysis, the LRC/USD pair is currently experiencing a major price increase following an extended bull run. The uptrend is supported by strong buying pressure and technical indicators showing potential for further upside.On the downside, traders should keep an eye out for key support levels in case of a market correction. Overall, the current market sentiment remains bullish for Loopring and it is likely that LRC will break the $0.40 resistance level in the near term.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Loopring (LRC) Gains by Over 40% After an Extended Bull Run appeared first on Coin Edition.

The Loopring team announced via Twitter on Thursday that it now supports the creation of NFT collections on its blockchain. The team said NFTs already created in marketplaces with collection metadata will be auto-recognized by its mobile and web applications. This latest development comes a few months after the team introduced advanced NFT minting on its blockchain. With its advanced NFT minting feature, users don’t need technical skills to mint NFTs on the blockchain. Loopring aims to build an open protocol for scalable, non-custodial, orderbook-based exchanges on Ethereum by leveraging zero-knowledge proofs. LRC, Loopring’s native token, is up by more than 6.90% today and is trading at $0.3610 at press time.