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Loom

LOOM Continues Strong Consolidation!I'm holding a LOOM bag on CoinbasePro. As you probably know, Coinbase will be one of the last exchanges to complete the token swap to LOOMX, and they have stated it will happen "at a later date sometime during 2021". So keep that in mind for this analysis. Since about the 5th of January, we have watched LOOM progress within the parallel trading channel that I have depicted on my chart. A lot of LOOM holders were expecting a major breakout on February 1st, the date of the supposed token swap. For more info on what the token swap is all about, check with the LOOM website. But as we know, the 1st of February has come and gone, and we have not seen the predicted breakout. But this is not disappointing to me, and I'll tell you why... The longer we see the price line bounce around within this parallel trading zone, the better. If LOOM holds above the rising base line, I have no worries at all, and I'll patiently wait no matter how long it takes for CoinbasePro to execute the automatic token swap to the new LOOMX tokens. Reason being, the longer we stay within what I believe to be a consolidation zone, the stronger the price breakout will be. Personally, I'm looking for at least a 4X or higher bounce once this technical progression comes to a head. That's why I see no reason to rush. I have been accumulating since 0.023, and you know that I've already flipped LOOM in the past for a decent profit if you've followed my posts. However, I'm not swing-trading this token anymore. I think it's best to sit on it until it makes a move. If you have been watching the "USDC Gold Mine", as I like to call it, there has been a lot of powerful movement and explosive breakouts with the projects within this pairing group on CoinbasePro. I love them all, and hold a bag of MANA, DNT, CVC, & GNT. I sold my bag of BAT, but I will probably jump back in and ride it before it breaks out again. Right now, I see LOOM as having the greatest value of all the projects within the group. With 1B coins in the max supply and only 833,914,552 in circulation, I don't find another project available from any US-approved exchange that has similar value. So that's why I'm gambling on this one. As the price continues to fluctuate within the parallel trading channel, I'm watching for the price that the stochastic peaks and valleys returns. At the stochastic dips, if we keep getting a higher base price, we are golden. Add to that the fact that the On-Balance Volume appears to be showing us that the big fat cats are steadily accumulating, as the OBV line keeps on leveling up. If we don't see a dump on the OBV line, we could be in for a ride when this puppy finally breaks out. Take this with a grain of salt, and don't go emptying out your little bank accounts just because I made this glowing post. Do your own research, or run the risk of ending up in the soup line. Nothing is guaranteed in this crazy world of crypto. "That being said" (and I HATE that overused phrase), what are YOUR thoughts about LOOM, the token swap, and the future price potential as we head into alt season? I'd love to hear it! Carlton Flowers THEE CryptoPro of crypto pros
LLong
by carltonzone
2
Loom/btc nice move from key support as expected more to comeLoom/btc On 2 October i posted idea about loom btc best buy area and potentially bottom at 173sat You can see here the idea : Price dropped there as expected and pumped more than 24% from 173sat and never touched our stop 169 Last few days we can see volume start to enter and and buyers come with strong so I still expect it to grow more ..we just need btc move sideway and dont dump If you entered in our best buy area you should sell some and set stoploss at entery Next targets shown in the link above 246 sat 304 sat 373 sat Good luck
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by Babenski
3
LOOM/BTC Local Bottom at Key Support? (+95% Potential Profits)Hello Traders, As we can see here on the daily time frame for Loom Network (LOOM) on Binance, there may be a potential breakout from the falling wedge being printed since the peak of the last bullish wave. As we can see, LOOM peaked around 450 satoshi on its last rally. After a massive correction, prices are now trading around 200 satoshi. We can see prices trading near support (blue boxes) and breaking above the 10 and 21 EMAs, indicating a potential reversal into an uptrend. Prices can easily move up to the 50, 100 and 200 EMAs next.The MACD also gave off a bullish cross a few days ago, and the RSI is now above 50 while increasing steadily, both bullish signals. We also have some large buy volume on the most recent green candles, adding to the bullish sentiment. Keep your eye on this coin because if it can rally again, there will be massive growth. A potential short-to-mid term trade setup now could be: Entry: 200-220 Support: 160-180 Take Profits: 1 - 244 (+15%) 2 - 287 (+36%) 3 - 319 (+51%) 4 - 412 (+95%) Share your own thoughts and comments down below. Also, leave a like if you liked the post and follow me for more ideas! Price at writing: 208 satoshi.
LLong
by PS_TopDollarInvestments
1
LOOM lil H&S + big Inverse H&S = Uncertainty!!!Sorry for the messy chart, but I found this interesting. We seem to have a large inverse head & shoulders pattern playing out, which may indicate a trend reversal-- but it could be invalidated, and there's a potential head & shoulders forming on the smaller TF... but this could still be invalidated or play out but only on a smaller scale as well... A month or so ago, Binance's LOOM staking rewards seemed appealing to me, but truthfully I regret entering this trade while this coin is still moving in the macro downtrend... Exiting now to mitigate losses may be prudent, but I'm trying not to over-trade, and ya never know! If BTC gets rejected at 1200, perhaps I could still make a profit here. Definitely moving up my SL in case it goes the other way... Good luck out there CD
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by cryptodonovan
Loom Network Hits Support... Next Target (75% Mapped)Loom Network (LOOMBTC) has been growing since the mid-May low printing higher highs and higher lows. The last jump peaked at 0.00000456 with a bounce taking place at 0.618 Fib. Hitting this support level, the 0.618 Fib. retracement support can signal the end of the retrace... We stay strongly bullish above this level. If LOOMBTC can stay trading above 0.00000263, we can expect our next target to be hit. For a 75% jump, we are aiming at 0.00000528+ This level is marked with a magenta dashed line on the chart. A stop-loss can be set at a daily close below 0.00000246. This is not financial advice... Patience is key. Namaste.
LLong
by MasterAnanda
1
LOOM about to break out on the weeklyLOOMBTC Starting to head towards a break out of a long term consolidation on the weekly TF. There’s two entry options here - a BCR of 285 sats area could long to 366 as the first target. The less risky entry would be to wait for the BCR of 366 to avoid the volatile wicky area between 285-366 This would be a long term hold that could potentially return over 2000%. On the daily we are currently trying to push past that 285 sat zone so just watching this one for now. Once we pass there I’ll be looking for a retest to either support or a FIB level or even a retest of the 10 EMA on the daily. Lots of bullish volume coming in now also. It definitely needs a pull back before opening a position. The Loom Network is an Ethereum-based, Platform-as-a-Service (PaaS) network with a Software Development Kit (SDK) targeting large-scale, decentralized social app and game development. Loom DAppChains are run as parallel sidechains attached to smart contracts on the Ethereum mainnet. The LOOM token is the proprietary ERC-20 membership token that provides access to DAppChains on the Loom Network. *source: cryptobriefing.com
LLong
by TradeTravelChill