Loom Network (LOOM) Sees Price Surge and Consolidation
On Sunday, October 15, the value of Loom Network (LOOM) increased by 6% to reach $0.51. However, in the last 24 hours of trading, LOOM experienced a 2.3% decline and is currently priced at $0.36. Despite this recent dip, LOOM has seen a significant price increase of 115% over the past week, with a surge in trading volume.
Bulls Regain Momentum for LOOM
LOOM has been in a period of consolidation for several months, but the bulls have recently regained momentum, resulting in a breakout and substantial price increase. Despite attempts by bears to push prices lower, the bulls have established their position with two rebounds at the lower boundary of the rising channel. The price briefly encountered resistance at $0.29 before spiking to a new high at $0.51.
Support Levels and Resistance Points for LOOM
The bullish outlook for LOOM is supported by the 50 and 200 simple moving averages (SMA), which provide price support at $0.25 and $0.13 respectively. However, the relative strength index (RSI) is trending downward, suggesting selling pressure on LOOM’s price.
Potential Scenarios for LOOM’s Price
If the bullish momentum continues, LOOM’s price could surpass the $0.51 resistance point and set a new all-time high (ATH). However, if bears capitalize on the resistance at $0.51, the bulls may find support at $0.25. A breach below this support level could lead to further losses down to $0.19.
Bitcoin Minetrix (BTCMTX) Presale
The presale for Bitcoin Minetrix (BTCMTX) is currently in its second phase with 13 days remaining. The presale has already reached $1,583,273 in funding, halfway towards its soft cap. Each token is priced at $0.011, and the value is expected to increase as the presale progresses.
Earn High APY and Rewards with BTCMTX
By staking BTCMTX tokens, you can earn a remarkable annual percentage yield (APY) of 370%. This unique feature merges cloud mining and token staking to provide a transparent and secure mining experience. BTCMTX has also introduced a “Minedrop Competition” with the chance to win a share of $30,000 in BTCMTX tokens.
How to Participate in the BTCMTX Presale
To acquire BTCMTX tokens during the presale, you can connect your Web3 wallet and purchase tokens through bank cards or by exchanging ETH, BNB, or USDT for BTCMTX.
Hot Take: The Future of LOOM and BTCMTX
LOOM’s recent price surge and consolidation indicate positive momentum for the platform. If the bullish trend continues, LOOM could reach new ATH levels. On the other hand, BTCMTX’s unique stake-to-mine feature and ongoing presale present an alternative investment opportunity with high APY potential. As the crypto market evolves, both LOOM and BTCMTX have promising prospects for growth.
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