Would Loopring (LRC) be a good buy in November 2021?
Since the beginning of October 2021, Loopring LRC/USD has risen from $0.36 to $0.58, with the present price at $0.53. Loopring provides the most protected scaling mechanism in the business and can deal with thousands of requests off-chain.
Loopring has demonstrated that non-custodial technology can match the speed of custodial alternatives while also achieving transaction costs that are a fraction of on-chain costs.
Loopring can handle thousands of requests off-chain with verifiably correct execution, and it’s the most important to note that assets are always in the hands of the users.
Loopring, according to its official website, boasts the industry’s most secure scaling method, which is independent of external validators, consensus, or crypto-economic assumptions. As a result, poor exchange and payment programs are inconceivable.
Loopring (LRC) continues to be in the buy zone on a technical level; however, if you decide to buy this cryptocurrency in November 2021, you should employ a “stop-loss” order because the risk remains to be significant.
LRC is currently trading below its earlier highs, but if it rises above $0.60 resistance, it will indicate that it is time to trade. The next price objective might be about $0.70 or perhaps higher; however, a break of the $0.40 support level would be a robust “sell” signal.
