Loopring (LRC) registered a 2.0% gain this week, maintaining a position around $0.2960. The altcoin saw a peak at $0.3140 on Tuesday but struggled to establish itself above the crucial resistance level at $0.3000. Subsequently, prices experienced a notable 15.0% pullback to $0.2690. However, Loopring swiftly recovered, testing the resistance again on Wednesday, indicating underlying strength and potential for further upside.

The rally in Loopring lacks specific fundamental news to either support or restrict its momentum. Technical factors, coupled with the increasing share of altcoins in the crypto futures market, appear to be the primary drivers behind this surge. If prices successfully surpass the resistance at $0.3000, the next target could be $0.3500.