Loom Network (LOOM) Price Prediction: Will LOOM Jump 50% in the Coming Weeks?

On Oct 5, 2023

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Loom Network (LOOM) is trading at $0.15 as of 6:36 a.m. EST, showing a 32.2% gain in the last 24 hours and an 8% surge over the past week.

Furthermore, the token’s 24-hour trading volume has increased by 32%, reaching $487,000. Can LOOM jump 50% in the coming weeks?

Loom Network (LOOM) Rebounds on $0.11 Support

The LOOM chart shows a prolonged consolidation that has persisted for months. However, the bulls have found their footing in LOOM and have broken out, seizing the opportunity to increase the price.

LOOMUSD Price Chart. Source: Dextools.io

Despite the bears’ attempts to lower prices, the bulls have secured a foothold. Three rebounds at the lower boundary of the rising channel.

The price encountered resistance at $0.175, which allowed the bears to push the price down to the $0.11 support zone. This support zone is the base for a double-bottom pattern. Consequently, this triggered the current surge in Loom Network’s (LOOM) price.

The 50 and 200 simple moving averages, which crossed at $0.046, reinforce the bullish outlook. These simple moving averages currently provide price support for LOOM, with values of $0.07 for the 200 SMA and $0.13 for the 50 SMA, respectively.

Meanwhile, the relative strength index (RSI) is trending upwards in the overbought region at 70, rebounding from the oversold mark of 30. This shows intense buying pressure on the Loom Network (LOOM) price, enabling the bulls to push the RSI above 70.

LOOM Price Prediction

LOOM is currently bullish, rebounding from the support level that formed the double-bottom pattern. If this bullish momentum continues, LOOM’s price can surpass the $0.18 resistance point, establishing a new all-time high (ATH).

If a candlestick opens below the 50 SMA, bulls may find support at $0.10. A break below the $0.10 support level could lead to further losses for LOOM. Traders should monitor price action over the next few days to determine if Loom Network (LOOM) will continue its bullish trend.

Meanwhile, Bitcoin Minetrix BTCMTX offers an excellent opportunity for investors because of its Stake to Mine features and low presale price. Moreover, BTCMTX is showing a bullish trend.

Stake to Mine BTCMTX, Earn Passive Income

BTCMTX is reshaping the Bitcoin mining and distribution process by providing investors an enticing opportunity to actively participate in a profitable presale. It also uses a stake-to-mine approach, combining cloud mining and token staking.

This revolutionary concept tokenizes cloud mining, making it more accessible and eliminating traditional mining companies’ mining contracts. Therefore, it addresses cloud mining doubts.

The staking pool has witnessed significant adoption, with 25,891,668 $BTCMTX tokens staked. Besides converting it into mining power, $BTCMTX enables passive token generation through its staking mechanism.

Currently, the platform generates 158.5 tokens per ETH block, resulting in an astonishing annual percentage yield (APY) of 1267%, which may gradually decrease as more tokens lock into the pool.

The stake-to-mine concept is an innovative notion, rekindling hope for everyday #Crypto enthusiasts to engage in #Bitcoin mining. 🪙#BitcoinMinetrix users simply require an Ethereum-compatible wallet like #MetaMask, keeping things straightforward. pic.twitter.com/zqRFP4I5uD
— Bitcoinminetrix (@bitcoinminetrix) October 3, 2023

When you stake the $BTCMTX token within an Ethereum-based smart contract, it is the gateway to Bitcoin cloud mining.

You can get cloud mining credits by acquiring and staking $BTCMTX tokens. To access BTC cloud mining time or mining rewards, you must redeem these secondary tokens by ‘burning’ them.

BitcoinMTX’s Presale Surpasses $500k: Invest Now

BTCMTX presale funding has crossed the $500k mark, garnering $513,341 in investments at the time of writing. This has strengthened investor confidence, attracting more investors to join the presale platform’s potential offerings.

As shown on the BTCMTX website, the presale comprises 10 phases. In this first phase, you can gain BTCMTX tokens at a discounted price of just $0.011. However, the token price will increase by 10% with each successive presale stage.

Furthermore, the BTCMTX team has set a soft cap exceeding $15 million and a hard cap of $32 million. Crypto Zeus, a YouTuber with over 66.5k subscribers, is very optimistic about BTCMTX. He passionately endorses BTCMTX as one of the most efficient ways to earn BTC, further fueling excitement for this project passively.

The project features a maximum coin supply of 4 billion tokens, with 70% of these tokens, equivalent to 2.8 billion, available for presale investors.

You can participate in the presale and engage in stake-to-mine if you invest in BTCMTX tokens for a minimum of $10. You can also buy using Ethereum (ETH), Binance Coin (BNB), USDT (Tether), or bank cards as your payment options.

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