$LRC Coin Plunges: Is the $0.049 Floor the New Launchpad?
Current Price $LRC is trading around $0.049 USD.
Recent Trend: The coin is in a falling trend channel, showing significant bearish sentiment with losses of over 23% in the last 30 days.
Technical Status (Bearish): The price is below all major moving averages, indicating weak short-term and long-term trends.
Technical Status (Potential Rebound): The Relative Strength Index (RSI) is near 30-35, which is considered oversold. This may signal potential for a short-term price bounce if the general market improves.
Key Fundamental Headwinds:
The team is sunsetting some DeFi products and closing the Loopring Wallet by mid-2025.
This pivot, while aimed at focusing on the core decentralized Layer 2 (zkRollup) technology, has created user migration risk and contributed to recent selling pressure.
In short, $LRC is currently in a bearish technical phase driven by a major product and strategy pivot, though technical indicators suggest it is highly oversold.
