Loopring Is Struggling to Keep above $0.0500
Loopring (LRC) is down 2.3% this week to $0.0709, significantly underperforming the broader crypto market, where Bitcoin (BTC) is down 0.7% to $108,374. The market remains in a holding pattern as investors wait for BTC to decisively break through the key resistance zone at $108,000–110,000. Until then, altcoins like Loopring are facing mounting pressure.
LRC currently lacks any internal catalysts to support its price. After falling below the $0.1000 support in May, it continued its decline throughout June and is now hovering just above a critical level at $0.0500. A break below this support could seriously damage investor confidence and potentially push the token out of consideration for many market players.
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