🚀The Loom Network (LOOM) project has grown more than ➕100% in the last week.
🧐Let's first see what Loom Network (LOOM) is❗️❓
🔘Loom Network is a platform as a service that is built on top of Ethereum and allows developers to run large-scale decentralized applications. This platform was released on October 1st, 2017.
🔘The goal of this is to allow application developers to have smart contracts that can access much more computing power when it is required, or maintain the same power at lower costs for tasks such as trials for onboarding new users or applications that simply do not need the full security of blockchain to begin with.
🔘In this system you have the ability to interact with APIs developed by third parties which are not on chain. Loom attempts to be the ultimate platform that allows smart contract developers to create applications without the need to switch to another programming language.
🔘As such, they can easily integrate their applications with the outside world.
🔘The Loom Network runs on Plasma, which is a scaling solution that allows for faster transactions throughout the network. ------------------------------------------------------------------
✅LOOM seems to have succeeded in forming an Ascending Channel.
🏃♂️Currently, LOOM is moving near the upper line of the Ascending Channel and 🟡Price Reversal Zone(PRZ)🟡.
🔔I expect LOOM to start falling from one of the 🟡Price Reversal Zone(PRZs)🟡, (most likely the first PRZ) and decline to at least the bottom line of theAscending channel.
Loom Network Analyze (LOOMUSDT), 4-hour time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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LOOM reacted to f🟡Price Reversal Zone(PRZ)🟡.
Still valid.
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I expect LOOM will touch support line soon.
Trade closed: stop reached
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Trade closed: target reached
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Second 🟡Price Reversal Zone(PRZ)🟡 was able to hold the LOOM.
Of course, I expected LOOM to start coming back from the first 🟡Price Reversal Zone(PRZ)🟡.
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LOOM was able to break the support zone and support line, maybe more dump.
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😔It seems that LOOM has gone into hibernation and is moving in the form of Range.😔
Thank you for sharing your analysis and trade setup.If you have more insights or updates in the future, please don't hesitate to share them. Happy trading! 📈💰
Binance exchange wallet had 16 million Loom token balance less than 24 hours ago. Now less than 400 thousand !!! During this period, the price of 0.21 dollar increased to 0.28 Check it yourself, filter the Binance balance on this token using "etherscan" Your idea is good but with small volume and risk management. Above 0.33 is great
pejman_zwin
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@heidari1990, Thanks for sharing info,let's see what will happen to LOOM.
heidari1990
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@pejman_zwin, Now at the price of 0.25, balance of Binance Loom token is over. I suggest to use stoploss at 0.29 $
heidari1990
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@pejman_zwin, Your idea is invalid, please update. According to the chart and your last comment that you said 23 hours ago
pejman_zwin
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@heidari1990, i Tokens with low trading volume have long shadows and the exact supply and demand areas may not be clear, but it was a good effort :)