Loopring’s native token LRC is once again under pressure after a short-lived bounce ran into heavy resistance, reinforcing a broader bearish structure that has dominated price action for weeks.
The token is currently trading near the $0.056 area, struggling to hold minor intraday gains as sellers defend higher levels.
- LRC failed to hold a recent bounce and was rejected near the $0.057 resistance zone
- Price action suggests a liquidity grab rather than a true breakout
- RSI and MACD point to weakening momentum
- Downside targets around $0.052 and $0.050 are back in focus
Recent market data shows LRC down over 3% on the weekly timeframe, with market capitalization hovering around $77 million. Despite relatively steady trading volume, price momentum remains weak, suggesting that buyers are still hesitant to step in aggressively.
Rally attempt runs into resistance
On the 4-hour chart, LRC briefly pushed higher and swept liquidity above recent local highs before quickly stalling. The move failed to develop into a sustained breakout and instead ran directly into a clear resistance zone, where selling pressure intensified. This rejection has shifted attention back to the downside, as the structure continues to favor lower prices.
The sharp wick to the upside followed by immediate pullback highlights a classic liquidity grab, often seen before trend continuation. Instead of flipping resistance into support, LRC rolled over, keeping the broader bearish bias intact.
Momentum indicators remain mixed to weak
Momentum indicators add to the cautious outlook. The Relative Strength Index is hovering in the mid-to-high 40s, well below bullish territory, suggesting that upside strength remains limited. Meanwhile, MACD readings show fading positive momentum, with histogram bars compressing near the zero line – a sign that bullish attempts are losing steam rather than accelerating.
Volume has also failed to expand meaningfully during the bounce, reinforcing the idea that recent price strength lacked strong conviction from buyers.
Downside levels come back into focus
According to widely shared technical commentary, the $0.057 area has emerged as a key short-term rejection zone. As long as price remains below the upper resistance near $0.062, the broader setup continues to point lower.
Analysts are now watching the $0.052 region as the first downside liquidity pocket, with deeper support closer to $0.050 potentially coming into play if selling pressure accelerates.
The overall trend structure remains bearish, and downside liquidity appears to be the main magnet unless bulls manage to reclaim higher resistance levels decisively.
Market sentiment stays cautious
With LRC still trading far below its historical highs and failing to build sustained upward momentum, sentiment around the token remains fragile. Short-term bounces are being treated as selling opportunities rather than trend reversals, especially while the broader market remains selective and risk appetite uneven across altcoins.
For now, Loopring appears stuck in a vulnerable position, where any renewed selling pressure could quickly push price back toward lower support zones.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/market/loopring-lrc-under-pressure-after-failed-breakout-attempt/
