LRC Bulls Take Charge: Is the Downtrend Over — Is $0.16 the Next Target?

LRC breaks out of a long-term downtrend, closing above the channel for the first time in months.

Bullish momentum pushes price past $0.11, with the $0.16 zone now within striking distance for traders.

Rising volume and strong candle formations point to renewed market interest and possible trend reversal underway.

Loopring (LRC) has broken out of a multi-month downtrend, gaining 2.84% in 24 hours to trade at $0.1006. With a weekly surge of 14.44% and volume above $286M, bulls now eye the $0.16 target amid rising momentum.

LRC Breaks Out After Months of Falling Prices

Between January and late July 2025, Loopring traded mostly downwards within a channel. The price moved up and down between two downward-sloping lines. In August, the price started forming a pattern with higher lows and resistance near $0.09. This pattern was a symmetrical triangle as seen on a chart shared by World of Charts.

At the end of August, LRC broke out of the triangle and the channel with a strong upward move. The price rose by 23.72% in a day, reaching $0.109. This gain covered about $0.026, or 28.07%, in value. The breakout happened near resistance that was tested several times between June and August. This breakout points to a potential for more gains ahead.

Volume and Momentum Support the Move

Trading volume picked up speed in late August, jumping from roughly 108 million to almost 160 million by early September.This shows more traders joined as the price moved up. Even after a slight drop, volume stayed high above 140 million, signaling strong interest.

Source: CoinMarketCap

Momentum indicators also back this move. The MACD crossed bullish in mid-August before the breakout and stayed positive. The RSI reached overbought levels at the peak but now shows steady buying strength above the neutral level.

Key Support and Resistance Levels

Before the breakout, Loopring found support near $0.08 to $0.075, which helped push the price higher. Now the price trades above the top of the old downward channel. The next major resistance lies between $0.13 and $0.15, levels seen earlier in 2025.

This breakout points to a shift in the market trend. If LRC stays above $0.11, it could move higher toward $0.16. As of now, Loopring trades near $0.1006, showing gains over the last day and week, indicating growing trader interest.

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