Loom network twitter1/20/2024 ![]() Conversely, the price breaking below the lower band means the asset is oversold, pending a bounce. An asset’s price breaking above the upper band suggests prices have climbed excessively (overbought), meaning a correction is imminent. With the price testing the upper band (blue) of the Bollinger indicator, LOOM may be overbought.įor the layperson, the Bollinger Bands help identify whether an asset is overbought or oversold. On the other hand, the Bollinger Bands show that Loom Network price may be due for a correction. TradingView: LOOM/USDT 1-day chart Converse Case The position of the Relative Strength Index (RSI) at 68 and the green histogram bars of the Awesome Oscillator (AO) show bulls are leading the market. Overly ambitious cases could extrapolate the gains to the forecasted 50% target at $0.32331. In a highly bullish case, the gains could see Loom Network price extend to breach $0.25000. Increased buying pressure could see LOOM shatter the channel’s upper boundary at the $0.21586 high. Traders will rake in more gains if the price consolidates within this bullish technical formation. Loom Network Price Forecast With Ascending Parallel Channel in PlayĪt the time of writing, the Loom Network price is $0.2124, drawing support from the midline of the ascending parallel channel. Traders attribute the success recorded by the Loom Network, remarkably weaving its way to success in the blockchain space, to its innovative approach.ĭespite the market dip… $LOOM forecast looks promising. Prices can still 2.34X from here to meet it… /qSIa0inOPU ![]() $LOOM ( #LoomNetwork) has made roughly +450% gains in the past approximately 30 days and prices can STILL have MORE increasing COMING as $0.54164717 remains as the target! Longs, in particular, have had a field day with Loom Network price already up, and still some more upside potential left if their profit appetite is managed. #binance /la1KmGCyYUĪmong other drivers, the LOOM token went live on KuCoin Futures perpetual contracts on October 11, offering traders a chance to make more money through leveraged trading. With seamless integrations to Bitcoin, Ethereum, Binance Chain, and all major blockchains. Loom Network provides developers the scalability and usability they need to build high-performance user-facing dapps today. The Loom Network uses decentralized applications ( dApp) Chains-decentralized chains. It leverages Ethereum’s Proof-of-Stake ( PoS) algorithm to support developers’ creations. Loom Network is an L2 scaling solution platform for games and other social applications to deploy on its blockchain podium. Source: CoinMarketcap Loom Network Price Surges on Growing L2 Solutions Notably, the token features among today’s top gainers, with more than 10% in gains on CoinMarketCap. The token now stands around 330% above the breakout point, with prospects of 50% more gains amid expanding Layer-2 (L2) solutions. ![]() It comes after a longstanding consolidation under the $0.05 psychological level. Loom Network ( LOOM) price is trading with a bullish bias on the four-hour timeframe. Join Our Telegram channel to stay up to date on breaking news coverage
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