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- 1 Loom Network price (LOOM crypto) surged 25.4% in the past 24 hours and is currently trading at $0.267.
- 2 LOOM Network price surged over 480% in the last 24 Intraday sessions.
- 3 An UPBIT wallet accumulated LOOM of over $5.83 Million today and holds over 50% of the total supply.
Loom Network’s price skyrocketed by over 25% today and currently trades at $0.267. The LOOM Network price has experienced heavy buying in the recent sessions, which is clear from the price hike observed in the crypto. LOOM has experienced a price hike of over 480% in the last 24 sessions and has made its way into the list of top 100 cryptos.
The anonymous hike in the LOOM crypto price indicates whale participation behind the price surge. Moreover, the volume-to-market cap ratio being 199.06% confirms it. Looking over the Onchain data, A wallet suspected of the Korean exchange “UPBIT” seemed to accumulate over 21.42 Million $LOOM worth $5.83 Million today.
As per the Onchain data, The Wallet with Address “0xcE7” has over 99 transactions in the period and holds over 653.23 Million $LOOM in the wallet. In total, The Wallet “0xcE7” has control over 50% of the total supply worth of $181 Million. Other than the Loom Crypto, the wallet holds Ethereum worth $469.
Loom Network Price Analysis Over Daily Chart
The Loom Network price currently trades at $0.267 with an Intraday gain of over 25.4%. The price is nearing a major supply zone from where it might face some sort of corrections.
Moreover, the price has a strong uptrend prevailing in the short term, and the price may gain more if it continues with the momentum in the coming sessions.
The volume analysis shows that the Loom Network crypto price has a trading volume of $666.4 Million in the past 24 hours, which is 206.89% more than the last day. The LOOM crypto has a market cap of $326.35 Million and ranks 92nd in the crypto market. The volume-to-market-cap ratio is 199.06%, indicating very high volatility in the market.
Technical Indicators Signal Optimistic Trend Prevailed
MACD lines are showing an optimistic crossover. The histogram bars are formed above the mean line of increasing height, indicating the bullish momentum regained.
The EMA analysis shows that the LOOM crypto price hovers above the 50-day and 200-day EMA, indicating an optimistic trend prevailed. The EMAs might act as a dynamic support if the price declines.
Conclusion
Loom Network price surged by over 25% today and reached $0.267. The crypto has gained over 480% in the last 24 hours and entered the top-100 list. The price hike is likely due to whale activity, as a wallet suspected of being UPBIT exchange accumulated over 21 million LOOM today. The wallet holds 50% of the total supply. The price is approaching a supply zone and may face corrections. The volume is very high, indicating high volatility. The market cap is $326 million, and the rank is 92nd.
Technical Levels
- Support Levels: $0.156 and $0.117.
- Resistance Levels: $0.29 and $0.35.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
