The rising bullish trend shows growth in LRC coin price, increasing the chances of reaching $3 and ending 2021 with a BOOM!

LRC is an Ethereum-based crypto token used by Loopring, an open protocol developed for building decentralized cryptocurrency exchanges.

The primary idea of Loopring is to mix elements of both centralized and decentralized cryptocurrency exchanges in order to develop an application that can take advantage of its distinct advantages and eliminate inefficiencies.

Let us read ahead to know more about the Loopring technical analysis.
<h2>Past Performance of LRC</h2>
With demand found near $1.90, the LRC coin price shows a 25% bullish growth in the last 48 hours. However, the price fails to reach $2.6 and remains under the previous swing high. However, the 150% growth in the intraday trading volume shows a rise in buying pressure with some bullish chances left for the coin price. 

<img src="https://s3.tradingview.com/snapshots/e/eGRGBN8U.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/eGRGBN8U/">LRC/USD 4-hour Chart</a>
<h2>LRC Technical Analysis</h2>
The <a href="https://www.cryptoknowmics.com/news/polkastarter-pols-and-loopring-lrc-technical-analysis-bulls-losing-ground/">recent formation</a> of multiple bullish candles in the 4-hour chart shows the breakout of $2.5. Moreover, the retracement shows lower price rejection, indicating a possible continuation shortly.

Moreover, the price breaks above the 100 and 200-period EMA in the 4-hour and the retracement retests the breakout. Additionally, the rising 50-period EMA shows a high possibility of a golden crossover.

<img src="https://s3.tradingview.com/snapshots/m/M0grpaNN.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/M0grpaNN/">LRC/USD Daily Chart</a>

The RSI indicator at 49% retraces back below the central line in the daily chart after the sudden spike. However, it still showcases a rise in underlying bullishness with a jump from 40%.

Furthermore, the MACD indicator shows a spike in the MACD line, which can shortly give a bullish crossover in the daily chart. Therefore, increasing the possibility of a bullish continuation.

In short, the technical indicators signal a high possibility of a bullish continuation when paired with the lower price rejection seen in price action.
<h2>Upcoming Trend</h2>
The upcoming trend can see the LRC coin price reach $2.5 and even continue the bull run higher. However, it must manage to sustain above the 200-period EMA of the 4-hour chart. However, a failure crush many bullish dreams and drive the price back to support level at $1.90.

LRC Technical Analysis: Uptrend Can Reach $3 with Bullish Commitment

The rising bullish trend shows growth in the Loopring (LRC) coin price and increasing the chances of reaching $3 and ending 2021 with a BOOM!

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

LRC Technical Analysis: Uptrend Can Reach $3 with Bullish Commitment

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