Five Layer 2 Tokens We’re Watching Into May

Layer Two cryptos are those frameworks which are built on top of an existing blockchain. They are reliant on layer-1 or underlying blockchain for security.

Many different crypto coins can be bought in the market. However, not all of them have the same value, and some are more profitable than others. In this article, we will be discussing the top layer of two crypto to buy in April.

Polygon (MATIC)

The MATIC volume on all exchanges has been decreasing for the past week and hitting a 7-Day Low of $264.06m. The graph also shows that it is at a high point, with volume touching the 7-Day High of $1.62b. 

MATIC is currently priced at $1.38 and ranks #17 on CoinMarketCap. MATIC also has a supply of 10,000,000,000 coins with a market cap of 10.7 billion dollars.

On the 1D timeframe, the price action of $MATIC/USDT Forms out the Bullish Double Bottom pattern where the price action has completed out the 1st and 2nd bottom both. The Horizontal Resistance also has marked which is also the neckline of it. Let’s wait for the further price action to check out the movements.

Loopring (LRC)

Loopring is an open-sourced blockchain technology that allows a decentralized crypto exchange, incentivizing users worldwide. The long-term potential of Loopring is very appealing, but we need to see the current support levels before we can determine its validity. However, the recent price increase has helped LRC’s price go up significantly.

LRC is currently priced at $0.9355 and ranks #76 on CoinMarketCap. LRC also has a supply of 1,374,513,896 coins with a market cap of 1.2 billion dollars.

In the 1D timeframe, the price action of $LRC/USDT formed the Bullish Harmonic Bat pattern, and currently, it is consolidating at the demand zone level.

OMG Network (OMG)

The OMG Network is a value transfer network built on the Ethereum blockchain and aimed to be the first production-grade “layer two” scaling solution. It facilitates faster, cheaper, and more secure transactions with various digital content. OMG is a good investment option for the future and has a good outlook. Therefore, investing in OMG Network would be a sound decision as it has maintained its value.

OMG is currently priced at $4.62 and ranks #107 on CoinMarketCap. OMG also has a supply of 140,245,399 coins with a market cap of 647 million dollars.

In the 4H timeframe, the price action of $OMG/USDT formed an ascending triangle pattern where the price action played with the support and resistance level within the range.

SKALE Network (SKL)

SKALE is an Ethereum token that powers the Skale Network, which describes itself as a leaderless consensus network and allows for uncapped node usage. The nodes of the Skale Network provide resources to applications through discreet contracts. SKALE Network sounds good, and its approach to smart contracts is great!

SKL is currently priced at $0.1854 and ranks #108 on CoinMarketCap. SKL also has a supply of 7,000,000,000 coins with a market cap of 643 million dollars.

In the 4H timeframe, the price action of $SKL/USDT formed out of the Descending Triangle Pattern. The price action rejected the Resistance trendline and respected the Horizontal Support level.

ZKSpace (ZKS)

ZKSpace is a new approach to decentralized exchange. ZKSpace leverages the powers of Layer-2 scaling solutions like ZK-Rollups, which provide security, cost savings, and many other benefits.

ZKS is currently priced at $0.11 and ranks #739 on CoinMarketCap. ZKS also has a supply of 1,000,000,000 coins with a market cap of 21 million dollars.

In the 1D timeframe, the price action of $ZKS/USDT forms the Double bottom. The price action at the Horizontal Support level needs to break out of the Resistance level before making any impulsive moveout.