The broader crypto space seems to be gradually recovering from the January 5th crash as shorts built up eventually. Altcoins such as Cardano, Polygon, and Axie Infinity have experienced a good surge with 13%, 4%, and 3% gains round the clock. In contrast, capital appears to be rotating out of Crypto.com and Loopring owing to the rise in negative sentiments.
The panic selling has pulled down these altcoins to their multi-month lows. However, the altcoins are back at their historical bottoms. Whilst the tokens exhibit solid future potential crypto fraternity is making buy calls for CRO and LRC.
Some of the users’ accounts connected to Crypto.com have reported suspicious activity. In order to resolve the issue, the ecosystem has temporarily suspended all the withdrawals quickly. The same was then acknowledged by the platform and they promised to troubleshoot the issue at the earliest.
Owing to the glitch, the CRO price has undergone a steep correction plummeting to a multi-month low of $0.4401. The price appears to be trading around a huge cluster of support zones. On the other hand, the buying pressure seems to have slowed down with record-break exchange inflows of $41.03 million over the week.
The altcoin formed triple swing lows at the bottom support of $0.4546 since January 5th crash. The pattern hints that the downward move is making headway towards its end, and the uptrend looks inevitable. If the above bullish outlook flips the bearish dominance then CRO price would flip the bottoms to confirm the resurgence by 50% to reclaim $0.6461 as net network growth is 2.04% bullish.
Loopring (LRC) Price Looms, Biggest Opportunity to Buy The Dip!
Loopring has been among the top ERC-20 tokens in recent times that enjoyed terrific gains of over 500%. However, the altcoin was seen steadily dumping with no accumulation at local lows over the past couple of weeks. The gigantic price action in the last year was because of the exponential rise of hype surrounding its rumors of a partnership with Gameshop.
If you are panic selling LRC, hold on! There are still chances of exponential growth. Despite 80% of negative gains over the past couple of months, the market cap to total value locked is at its peak of 4.5. Hence, the price is expected to correct up to its five-month low of $0.75. Still, these are the best buy opportunity, as the project employs ZK-Rollup layer–2 solutions to enable high throughput and cost–efficient trades.
Collectively, CRO and LRC prices are well below 70% of their ATH, and hence this is the best opportunity to buy before we moon. Currently, On-chain activity appears to be turning bullish, the prices may flip these bottoms eventually.
Source: https://coinpedia.org/altcoin/bloodbath-in-loopring-lrc-and-crypto-com-cro/