Loopring / US Dollar Cryptocurrency Forecast

High volatility in Loopring / US Dollar cryptocurrency price on Wednesday which ended trading at $0.233
(Updated on May 01, 2024)

LRCUSD Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Loopring / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.255 and $0.302. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -54.84%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.

Support, Risk & Stop-loss for Loopring / US Dollar cryptocurrency

Loopring / US Dollar finds support from accumulated volume at $0.232 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0220 between high and low, or 10.02%. For the last week, the cryptocurrency has had daily average volatility of 7.56%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (LRCUSD) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Loopring / US Dollar to open at $0.231, and during the day (based on 14 day Average True Range), to move between $0.207 and $0.259, which gives a possible trading interval of +/-$0.0256 (+/-10.98%) up or down from last closing price. If Loopring / US Dollar takes out the full calculated possible swing range there will be an estimated 21.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.232 (0.52%) than the resistance at $0.243 (4.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Loopring / US Dollar cryptocurrency A Buy?

The Loopring / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Loopring / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.502 Strong Sell Candidate Downgraded

Predicted Opening Price for Loopring / US Dollar of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.