Altcoin That Escaped the Eyes of Investors! Bear Market Breaks Through: Price Increased by 527 Percent!

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Loom Networkis performing well, moving towards levels last reached in 2018. Built on the Ethereum blockchain to support large-scale dApps, the token is up 28% in the last 24 hours, 43% in a week, and 527% in the last month.

Investors saw LOOM surge 208% with $643 million in trading volume, according to market data from CoinMarketCap. Loom Network’s market value increased by 27%, reaching 332 million dollars. The entity ranks 89th.

Loom Network Price Prediction

Investors are also trying to seize an arbitrage opportunity in the token, which is traded at a higher price on the MEXC exchange.

The upward trajectory of the Moving Average Convergence Divergence (MACD) indicator confirms the bullish outlook. Investors may want to continue speculating long-term as long as the MACD remains above 0.02. However, caution is advised given that the Relative Strength Index (RSI) at 93 is overbought.

loom network review

Multiple golden cross formations are supporting the current uptrend. A golden crossover occurs when a short-term moving average crosses above a long-term moving average, reinforcing an uptrend and prices are likely to continue the rally. In LOOM Network’s case, the 21-day Exponential Moving Average (EMA) (red) is hovering above both the 100-day EMA (blue) and the 200-day EMA (purple).

LOOMThis remarkable rally of was a ray of hope for some traders who were depressed due to the bear market. However, investors should pay attention to resistance, especially at $0.3, and consider profit booking to secure gains ahead of an imminent correction. should think.


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