Price Analysis

Loopring Price Shoots Moon With 50% Surge! LRC Price in the Vicinity Of ATH!

Author: Elena R

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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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The latest burst of growth in the crypto space has comprehended the global market cap to a new ATH of $2.8 trillion. Moreover, it appears Bitcoin’s price has regained strength with 2.60% gains round the clock after enduring resistance of around $60k. Besides, its counterpart Ethereum has racked up to a new ATH of $4,643 with a 45% surge in address activity highest in the last 4 weeks.

Loopring Aims To Partner With GameStop’s NFT Marketplace!

In addition, the Loopring price has achieved a whopping surge of 39.92% in the last 24 hours followed by the rumour of its new venture with a reputed NFT platform. The latest Loopring’s public GitHub repository has revealed the code affirming highly anticipated collaboration with GameStop’s NFT marketplace. Meanwhile, the partnership intends to invest $150 billion in gaming firms. This would further disrupt the Gaming space and thereby giving rise to a massive pump in the price of the asset.

Loopring Trending Alert!

Loopring price instantly went parabolic followed by speculation of its new venture. A huge chunk of traders has jumped in to buy the asset as it was the top 2nd trending topic on Tuesday as reported by Santiment. Interestingly, among the top 10 trending news, 4 spots were related to LRC. People in the space were mostly talking about LRC, GME, Loopring, and Game.

In another report by Santiment, a crypto metric platform applauded Loopring’s latest achievement. The analytics shared by the network has further highlighted the surge in the social dominance factor to the latest high of 6.15%, followed by the highest price achieved by LRC in year-to-date performance.

Loopring Price Analysis:

On July 24th, the LRC price has broken out from bottom support of $0.2246 reaching $0.5351 on September 1st, 2021. Thereafter, the price has endured a prolonged consolidation of around $0.3542 for at least two months. However, as the community is hopeful of its next collaboration with GameStop’s NFT marketplace, the Ethereum based token has immediately gone parabolic on Tuesday. 

After initial rejection at $0.7683 on November 1st, the Loopring’s price has eventually regained momentum with a more than 150% surge from $0.524 to $1.55 at the press time. The 4-hour chart from the trading view indicated a cold war between buyers and sellers. On a positive note, RSI and MACD factors are optimistic about bullish momentum. 

Collectively, speculations going round in the circle believe collaboration to take place in Q4. Official announcement in the next few days or weeks would drastically uplift the price to claim its new ATH. On the other hand, if it just remains as a rumor then the price would experience a heavy plunge, probably it would settle between the range of $0.426 to $0.5245.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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