Loom Network is Trading -27.93% Below Our Price Prediction for Oct 17, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Loom Network is up 6.58% today against the US Dollar
• LOOM/BTC increased by 8.77% today
• LOOM/ETH increased by 6.90% today
• Loom Network is currently trading 27.93% below our prediction on Oct 17, 2023
• Loom Network gained 400.00% in the last month and is up 320.00% since 1 year ago

LOOM price is expected to rise by 37.59% in the next 5 days according to our Loom Network price prediction

is trading at $ 0.208821 after gaining 6.58% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 7.57% in the same time period. LOOM performed well against BTC today and recorded a 8.77% gain against the world’s largest cryptocurrency.

According to our Loom Network price prediction, LOOM is expected to reach a price of $ 0.289757 by Oct 17, 2023. This would represent a 37.59% price increase for LOOM in the next 5 days.

LOOM Price Prediction Chart

Buy/Sell Loom Network

What has been going on with Loom Network in the last 30 days

Loom Network has been displaying a positive trend recently, as the coin gained 400.00% in the last 30-days. The medium-term trend for Loom Network has been bullish, with LOOM increasing by 348.00% in the last 3 months. The long-term picture for Loom Network has been positive, as LOOM is currently displaying a 320.00% 1-year price change. On this day last year, LOOM was trading at $ 0.049719.

Loom Network reached its all-time high price on May 04, 2018, when the price of LOOM peaked at $ 0.778378. The current LOOM cycle high is $ 0.284637, while the cycle low is at $ 0.007378. LOOM has been displaying high volatility recently – the 1-month volatility of the coin is at 45.81. Loom Network recorded 18 green days in the last 30 days.

Loom Network technical analysis for today – Oct 12, 2023

The sentiment in the Loom Network markets is currently Bullish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 0.194842, $ 0.182194 and $ 0.175871, while $ 0.213812, $ 0.220136 and $ 0.232783 are the key resistance levels.

Bullish sentiment for Loom Network

29 indicators are currently signaling a bullish prediction for Loom Network, while 3 indicators are showing a bearish forecast. With 91% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Loom Network.

Crypto market is currently experiencing Fear

Currently, the Fear & Greed index is at 45 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Loom Network moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Loom Network is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Loom Network is at 78.33, suggesting that LOOM is currently overbought.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Loom Network over the last 50 days. Currently, Loom Network is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the LOOM closing price for the last 200 days. LOOM is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Loom Network prediction

After considering the above factors, we can conclude that the current forecast for Loom Network price prediction is Bullish. LOOM would have to increase by 37.59% to hit our $ 0.289757 target within the next five days. Moving forward, it will be important to monitor the LOOM market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Loom Network price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.