#LOOM
The price is moving in a downward channel after being pumped strongly.
There is often a large correction after that, and the correction goes within the boundaries of that channel downward.
The price is below Moving Average 100
The price is expected to continue falling inside the channel.
Targeting the support area 0.04700 to 0.04000
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LOOMBTC Market Update.
Note: This is only for Educational purposes; this is not investment advice.
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Adil Khan.
Loom appears to be finding a a temporary bottom on a 9 as can be seen on a daily chart above.
I would at the very least expect a retest in the coming weeks but for now, there should at the very least be a short and brief relief rally over the next few days.
