Loopring Is looking for $0.2000
Loopring (LRC) is experiencing a significant decline, dropping 12.5% to $0.1500, which is notably steeper compared to Bitcoin's (BTC) 1.3% drop to $67,220. This downturn is primarily attributed to a recent hack in early June resulting in a $5.0 million loss, which has sent LRC prices sideways. Despite this, the token managed to breach the resistance of the downside trend established on March 15, 2024.
There are two potential scenarios for LRC's future. The positive scenario with an upside recovery to $0.2000 has more chances to materialize. The downside scenario suggest a decline to $0.1000 followed by a subsequent recovery to $0.2000.
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