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- 1 The LRC crypto is ripe for a splendid surge, as it harnesses energy to pierce the resistance level.
- 2 The LRC asset is displaying bullish characteristics and the RSI is rising smoothly.
Loopring is an open protocol that allows for the creation of decentralized crypto exchanges. It aims to combine the benefits of centralized and decentralized exchanges while avoiding their drawbacks.
Centralized exchanges are the most common way of trading crypto assets. They are fast and convenient, but they also have some risks, such as their custodial nature.
Another major problem for centralized exchanges is the lack of transparency: the trades are not recorded and mmaintaained on the blockchain, but rather stored in the exchange’s own records, which makes it possible for the exchanges to manipulate prices and use user funds for unauthorized purposes while in custody.
Instead of holding user funds in custody and processing trades internally, decentralized exchanges connect buyers and sellers directly and settle trades on a public blockchain.
While eliminating the custodial and transparency risks, DEXs introduce new challenges: mainly, lower efficiency (compared to centralized alternatives) due to the limitations of the underlying blockchains and fragmented liquidity.
Loopring protocol tries to keep the advantages of decentralized exchanges while reducing or removing their inefficiencies through innovative hybrid solutions.
It handles orders in a centralized way but settles the trades on the blockchain, and matches up to 16 orders into circular trades instead of allowing only one vs one trading pairs. Loopring expects to improve the efficiency of order execution, as well as enhance the liquidity of DEXs.
Will LRC Crypto Chart Show Follow-on Buying?
The LRC crypto surged by 2.38% in the last 24 hours, and the asset is currently trading at $0.2580.The LRC crypto is ripe for a splendid surge, as it harnesses energy to pierce the resistance level and climb to new altitudes from the current demand zone.
However, if the demand for the LRC Token remains high, the asset price could bounce back from the current level. The next goal for the LRC price is to reach $0.3000.
The LRC asset is exhibiting bullish strength and could continue to rise higher. It has delivered good results in the previous week, last month, and over the last three months, by 39.03%, 15.35%, and 20.05% respectively, signifying a solid upward momentum.
The LRC asset is displaying bullish characteristics accordion to the technicals. The RSI is rising smoothly, implying that the asset is gaining momentum and can achieve new peaks.
However, if the LRC crypto price fails to stay above the $0.2000 level, it could decline further.
Summary
The LRC crypto is ripe for a splendid surge, as it harnesses energy to pierce the resistance level and climb to new altitudes from the current demand zone.
However, if the demand for the LRC Token remains high, the asset price could bounce back from the current level. The next goal for the LRC price is to reach $0.3000.
Technical Levels
Support Levels: $0.2000
Resistance Levels: $0.3000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
