Loopring (LRC) had emerged as one of the top-performing coins in 2021. The altcoin reached its highest point of $3. 86 in November last year. It has been a free fall since then for LRC. The coin is expected to make a significant bullish breakout in the next few days. These are some highlights:

• After hitting an all-time high of $3. 86 in late 2021, Loopring (LRC) has fallen over 75% from those levels.

• At the time of writing the token was $1. 06, up about 5% over the last 24 hours.

• Loopring (LRC) is however consolidating and a decisive bullish breakout could see gains of nearly 50% from its current price.

Data Source: Tradingview

Loopring (LRC) – Can it return to $3

A run to $3 for Loopring is possible. It is unlikely to happen anytime soon. But LRC can surge by 50% in the coming days. Breaking the $1.2 overhead resistance is the key to unlocking the token’s potential.

LRC tested this threshold over the past few days and was rejected on every occasion. However, we are beginning to see some positive upward momentum.

It is probable that the coin will break $1.2, and then rally towards $1.8 in near term. This will bring gains of nearly 50% for investors. RSI indicators show bullish momentum.

Why you must buy Loopring (LRC)

Loopring is an Ethereum scaling solution that provides the infrastructure necessary to create decentralised exchanges. It is one the most promising cryptocurrency projects on the market.

LRC still has a lot to offer with a market capital of $1.4 billion. This makes it a good long-term investment, especially considering its recent decline from its ATH.