Huobi x CoinMarketCal 👀A Coin To Keep An Eye On — Loopring!
LRC is an ERC-20 token that describes itself as “an open-sourced, audited, and non-custodial protocol.” Loopring is an Ethereum zkRollup protocol — a type of layer 2 scaling solution. Layer 2s are an environment that sits above Ethereum, where transaction throughput can be increased, and transaction cost can be decreased. From a user’s POV, that means faster, cheaper, gas-free transactions.
📅 The upcoming event via coinmarketcal.com!
🔹LRC —Jan 7th, Liquidity Mining Event!
LRC lifted off last Sunday, with the impulse sweeping the swing highs into resistance up to $0.2789.
If the price retraces now that it has taken highs, aggressive bulls could look for entries at the recently broken highs between $0.24692 and $0.22406. A deeper retracement that fills the gap down to the monthly level at $0.20138 provides a better entry, with any quick drops below the monthly open at $0.17503 providing the most favorable entries.
Continuation through the current resistance around $0.284 is likely to explode through the remaining daily highs stacked up to $0.30829. There’s no telling how far the price could go beyond this high, but the plethora of daily swing highs from 2018’s bear market provides additional take-profit zones.
1. Trading in digital assets comes with high risks due to huge price fluctuations. Users should be fully aware of the risks associated with digital asset trading and make prudent trading decisions.
2. Huobi Global’s announcements and information do not constitute investment advice, and Huobi will not bear responsibility or provide compensation for direct or indirect losses arising from trading decisions whilst relying on this information.