Loopring still shoots higher, skyrocketing to new ATHs each day. The ETH-based DeX coin has touched the $4 level for its first time. For now, market analysts speculate that Loopring will surge to discover a new level past $5.0.
While writing this article, Loopring (LRC) has its price near $3.72 as bulls explore new highs following a nearly 30% surge in the past 24hrs. The lucrative price movements had the alt’s market cap crossing the $4 billion mark after increasing by approximately 33% in one day.
That way, the crypto secured its place in the top 50 digital assets by market value (CoinMarketCap data). For now, LRC ranks 42, behind Helium and Tezos. EOS slipped towards the 43 positions as Monera and Decentraland claimed the 44 and 45 positions, respectively. If LRC maintains its rallying attitude, it will rise to challenge cryptocurrency in the top 30 ranks.
Loopring Still on the Upward Path
Loopring appears on a bullish outlook as bulls remain optimistic, pushing the coin above $4. The LRC buyers seem unstoppable, supported by the latest market-wide discoveries led by BTC and Ethereum.
Also read:Bitcoin surged to new ATHs past $69,000 as positive actions dominated the market during Wednesday’s sessions. Also, Ethereum rose towards record peaks of $4,900. Meanwhile, the positive sentiment in the crypto market motivated Loopring bulls as they targeted new highs. Nevertheless, Bitcoin and ETH retraced from their respective highs. At this publication, Bitcoin has its price near $65,200 as Ethereum hovers at $4,680.
LRC/USD Daily Price Chart
For now, technicals seem not to tell much about LRC’s rally and what market players need to expect in the short term. Analysts believe FOMO to be the driving force behind Loopring’s consistent upside move. Overpowering the $4 level will bolster LRC past $5.
Meanwhile, Loopring might necessitate broad market support to attain its projected target. Meanwhile, BTC corrects at the moment, though not shocking investors. That is because analysts view retracement as an opportunity for the asset to collect momentum, to rise higher. Bitcoin upsurges will bolster LRC price actions.
LRC Intraday Levels
- Spot rate – $3.71
- Trend – massively bullish
- Volatility – extremely high
- Support level – $3.06
- Resistance level – $4
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