Loopring Price Prediction – Will LRC Price Hit $3 2021?

This Loopring (LRC) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our LRC price analysis and prediction.

There are various cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some crypto assets also faced a price drop. As a result, many digital currency traders are worried about whether it is time to hold or sell their digital assets. This is also the same situation that crypto traders could experience in LRC.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will LRC experience the same price volatility? We’ll find out shortly in this LRC price analysis 2021 article. But first, let’s have a look at what LRC is.

What is Loopring (LRC)?

LRC is the Ethereum-related crypto token of Loopring. However, Loopring is an open protocol created for the building of decentralized digital asset exchanges. Moreover, in 2020, the average daily trading volume of the whole crypto market fluctuated in the estimated range of $50-$200 million.

Moreover, the trading happens on centralized crypto exchanges which are online platforms that work by private companies that store users’ funds. Also, facilitates the matching of purchase and sell orders. However, such platforms contain a number of downsides common to all.

Notably, the goal of Loopring is to join centralized order matching with decentralized on-blockchain order settlement into hybridized items that will take the best aspects of both centralized and decentralized exchanges.

Moreover, the LRC tokens became present to the public during an initial coin offering (ICO) in August 2017, while the Loopring protocol was first deployed on the ETH mainnet in December 2019.

Now that we are clear about LRC do you think LRC will be beneficial crypto in 2021? Join me and let us see the charts in this LRC price analysis and LRC price prediction.

Loopring (LRC) Current Market Status

As of the time of writing this Loopring price analysis, LRC trades at $1.25 with a 24-hour trading volume of $1,233,037,190. The price of LRC has decreased by 19.13% in the last 24 hours.

Currently, the top cryptocurrency exchanges for LRC are Binance, Mandala Exchange, OKEx, FTX, and CoinTiger. Now, let’s go to the next part of this LRC technical analysis for 2021.

Loopring (LRC) Price Analysis 2021

Currently, LRC holds 79th place on CoinMarketCap. But will the latest upgrades, development, and changes in the LRC blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this LRC price prediction article.

In the hourly time frame chart shown above, we can see the Symmetrical Triangle Pattern. This pattern shows the period of consolidation that may lead to a price breakdown or breakout. In the foreseeable future, we can say that LRC has a higher chance of going bullish than bearish.

The Relative Strength Index (RSI) is above 76.49, which means that LRC is in an overbought state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of LRC

Since the start of 2021, LRC’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, LRC has a competitive market this 2021.

Loopring (LRC) Price Prediction 2021

Currently, Loopring holds 12th place on CoinMarketCap. Would the market performance be enough for Loopring to maintain its bullish position in 2021? Are you excited to know the results? Well, what are we waiting for? Let’s get to the bottom of it in this Loopring price prediction 2021.

In the short-to-mid term scenario for our Loopring price prediction 2021, Loopring has to break past the retracement level at $2.51. To do this, it has to establish more support at the Fib level at $1.75. If not, bears may gain the upper hand and drag Loopring to their territory.

Meanwhile, our long-term Loopring price prediction 2021 is bullish. Even more, it has a high possibility of reaching a new all-time high this year. However, that will only happen if it breaks past a number of psychological resistances.

Loopring (LRC) Price Prediction 2022

If this bullish trend continues, Loopring will reach $4.5 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $5. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $4.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Loopring (LRC) Price Prediction 2023

The price of Loopring can move even great heights, however reaching $10. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency Loopring breaks past the psychological resistance level.

Loopring (LRC) Price Prediction 2024

As per the latest upgrades, developments, Loopring price prediction, and new project forecasts of the platform. Moreover, this might boost the price of Loopring in the crypto market, and it will be the best investment as the price can spike and reach around $25.

Loopring (LRC) Price Prediction 2025

In the next four years, Loopring prices could race up to $40. However, reaching this level could not be so difficult for Loopring as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that Loopring has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Loopring has a bright future ahead of it in 2021. With the ongoing developments happening within the LRC ecosystem, as well as in the overall crypto market, we may see LRC reach new heights.

Bullish LRC price prediction 2021 is $1. As said above, it may even reach its new ATH if investors have decided that LRC is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as informative material about the crypto exchange. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any cryptocurrencies.

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