Tag: Lagrange

• Lagrange (LA) drops 22% despite Binance listing and market rally.
• LA price currently hovers near key support at $0.3902 after a sharp correction.
• The recent price drop follows June’s 216% surge after Coinbase listing.

Lagrange (LA), a zero-knowledge proof altcoin designed to power advanced blockchain computations, is experiencing a sharp price decline even as broader crypto markets enjoy a bullish momentum.

The downturn comes at a time when major coins like Bitcoin (BTC) and Ethereum (ETH) are climbing, leaving investors wondering why Lagrange is bucking the trend so dramatically.

Although the project has been praised for its cutting-edge infrastructure, recent events seem to be reshaping market sentiment around the LA token.

Binance listing triggered unexpected sell-off

Just days ago, Binance, the world’s largest crypto exchange, announced its official support for Lagrange (LA), listing the token on several of its services, including Binance Simple Earn, Convert, Margin, and Buy Crypto.

Contrary to expectations, the news did not boost LA’s price; instead, it marked the beginning of a rapid downturn, with the asset plummeting from a seven-day high of $0.676 on July 9 to $0.416 within 24 hours.

This decline continued into July 11, as Lagrange (LA) shed an additional 12.2% in daily trading, settling at $0.3996 despite the high trading volume of over $164 million.

While exchange listings typically trigger price surges, some analysts suggest that the Binance announcement may have encouraged profit-taking from traders who had anticipated the news.

A brutal 7-day correction

The recent 7-day trend has not been kind to Lagrange, with its price tumbling by over 22%, placing it near a key support zone between $0.3902 and $0.4554.

With broader market sentiment remaining positive, LA’s decline is unusual and hints at token-specific dynamics at play rather than market-wide weakness.

Currently, the altcoin is hovering just above a crucial technical level at $0.3902, and failure to hold this support could lead to further downside.

However, if buyers manage to regain control, analysts say a short-term rebound toward $0.4800 or even $0.5000 remains within reach.

Notably, the decline follows a recent rally in June, when LA surged by over 216% after being listed on Coinbase, rising from $0.253 to $1.50 in just a day.

That spike, while impressive, may have set the stage for a correction, especially with the token hitting an all-time high of $1.72 on June 6 before reversing course.

Since then, LA has dropped nearly 77% from its peak, creating growing concerns among traders about the sustainability of its gains.

This rapid boom-and-bust cycle has made LA a volatile token to watch, particularly for short-term traders navigating resistance and support zones.

Where does Lagrange (LA) go from here?

While Lagrange’s recent price trajectory is troubling for holders, the asset is approaching technical levels that could invite fresh buying interest.

Should Lagrange (LA) maintain support above $0.3900, there is potential for a modest rebound in the short term, particularly if positive momentum from the broader market spills over.

On the other hand, a breakdown below this level could lead to increased selling pressure, potentially pushing the token toward new lows.

For now, investors are advised to watch market signals closely and weigh the risks of volatility against the project’s strong technological foundation.