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Loopring token buyers have the upper hand when writing. LRC crypto is steady in the last trading day but up 71 percent from 2022 lows. Buyers have targets set at $0.66 in the short term.
Past Performance
For the first time in over six weeks, Loopring crypto prices are trading above the middle BB. This formation follows sharp gains on May 23 that propelled the token to spot rates. In the past trading day, the LRC coin price is up four percent and up a massive 71 percent from 2022 lows.
Loopring Technical Analysis
LRC technical analysis shows the crypto prices are bottoming up at spot rates. Trading at $0.56 versus the USDT, Loopring token bulls have satisfactorily reversed the losses of May 11 with rising trading volumes. Therefore, buyers have the upper hand from an effort versus results perspective. Based on the LRC token candlestick arrangement in the daily chart, traders may begin loading the dips ideally above $0.45. The immediate target, in this case, stands at May 24 highs at $0.66. Conversely, if prices retrace below $0.45, the uptrend could face headwinds, slowing down the recovery.
What to Expect from LRC?
There are encouraging developments for Loopring crypto prices in the daily chart. However, what's required is confirmation of May 23 gains and a firm close above the middle BB. The would would solidify the recovery, setting the foundation for another leg up to Q1 2022 territory.