The price of LoopRing (LRC) has shown no sign of relief bounce against Tether as it continues to range in its low region. Despite relief bounces shown by other cryptocurrencies across the market, some producing double-digit gains, LoopRing price continued to look dormant. (Data from Binance) Related Reading: ANKR Gained 12% In The Last 24 Hours. What’s Pushing It? LoopRing Price Analysis On The Weekly Chart From the chart, the price of LRC saw its weekly bottom at $0.35; the price of LRC bounced from that region to a price of $0.4 on the weekly chart as the price is unable to show much strength to trend higher. LRC weekly candle closed with the bearish sentiment, with the new week’s candle looking indecisive. The price has continued to show little or no traction; If the price of LRC on the weekly chart maintains this structure, it could retest its low of $0.35 as this is a key support region on the weekly chart. For the price of LRC to trend higher, it needs to break the resistance at $0.5 with a good volume to have a go at higher prices and double gains. Weekly resistance for the price of LRC – $0.5. Weekly support for the price of LRC – $0.35. Price Analysis Of LRC On The Daily (1D) Chart The price of LRC has found itself ranging in a channel trying to break out from what looks like a cage preventing the price from trending higher. LRC has found its price between $0.35 acting as support and $0.5 acting as t...
