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- LOOM Network was founded by Luke Zhang and James M. Duffy in October 2017. It was made for serious dApp (decentralized application) developers and for the providers of healthcare services.
- The investors can stake their tokens to secure Basechain and earn rewards in that process.
- Let’s do some analysis in this article and retrieve some information about the coin.
LOOM distribution
Developers Outreach- 6%
Crowdloan Rewards- 24%
Parachain R&D- 20%
Staking Rewards- 20%
Parachain Slot- 30%
The market capitalization of LOOM is $132,393,314. It is ranked 171st out of all 9,092 cryptocurrencies listed on the CoinMarketCap.
Its total volume traded in the last 24 hours is $157,013,761, which decreased by 17.31%.
Its total supply in the market is 1,300,000,000 LOOM. Circulating supply means the total number of tokens available in the trade market.
The Current circulating supply is around 1,219,425,698 LOOM. It is ranked 16th out of all 9,092 cryptocurrencies in the market by volume (24 Hours).
LOOM Token Technical Analysis
In today’s session, it is up by 19.85% which is fluctuating as the coin is traded every day. Overall, the coin is up by 43.61%. That is good because currently, the market is bearish.
The Fear and Greed Index of the cryptocurrency market is showing 47 Neutral. The all-time high was made on the day it came into the market, which was $0.25870178.
In the one-day time frame, the coin ranges between a support level and a resistance level. The chances of breakout are less as it is not near any level whether support or resistance.
By 29 September 2023, prices might rise up to $0.139246. It will be a 36.65% rise in price if it occurs.
The F&I Index shows 47 (Neutral). In the last 30 days, the coin recorded 16/30 green days.
It is around 53%, which means the coin was slightly bullish. The current market sentiments of the coin are also bullish.
The failure of the “Three White Soldiers” pattern indicates that the coin may continue its current position.
Three White Soldiers means that after its formation the prices will start to move in the upward direction.
The price volatility of the coin over the last 30 days was 36.90%. In the last 7 days, the coin was up by 140%.
Price Prediction of LOOM (2024-2030)
| Year | Low | High |
| 2024 | $ 0.053820 | $ 0.305175 |
| 2025 | $ 0.058178 | $ 0.188066 |
| 2026 | $ 0.048956 | $ 0.143118 |
| 2027 | $ 0.052787 | $ 0.162375 |
| 2028 | $ 0.058771 | $ 0.385688 |
| 2029 | $ 0.064488 | $ 0.234873 |
| 2030 | $ 0.052391 | $ 0.175911 |
LOOM network ROI(Return On Investment)
| Time Frame | ROI |
| 1 Hour | 4.34% |
| 24 Hours | 16.77% |
| 7 Days | 129.86% |
| 1 Month | 169.27% |
| 6 Months | 58.24% |
| 1 Year | 98.96% |
Live Chart
Conclusion
By analyzing the coin through technical analysis, we can conclude that recovery is only possible when the coin gives any breakout. So far, the chances of recovery are less.
The line chart of the 1-D time frame indicates that the coin is in a sideways position. The chances of the coin continuing sideways position might be possible because of no breakout given by the coin.
Levels
Resistance Level- $0.15625801
Support Level- $0.03629106
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
