12/26/2023 0 Comments Loom coin predictionSmart contract developers can also create applications without the need to switch to another programming language. It is also a go-to service for DApps that do not need the full blockchain technology security.ĭevelopers can interact with third-party APIs which are not on-chain. It main aim is to provide developers with access to smart contracts that have much more computing power and that can maintain the same computing power at lower costs for tasks like onboarding new users. It provides an ecosystem of blockchains to sustain the next generation of DeFi protocols, NFTs, and high-performance multi-chain DApps. It runs on Plasma, which is a scaling solution that allows for faster transactions throughout the network. Loom Network was founded in 20127 and it is a service built on the Ethereum blockchain. CoinbaseĬoinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market. Best places to buy Loom Network coin Binanceīinance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market. To find out more, please continue reading. To help traders who want to take advantage of the Loom Network price surge, Invezz has prepared this brief guide on where to buy the LOOM coin. The current surge comes two years after the Loom project suffered a catastrophic slump making the crypto community to declare it to be officially dead. Over the past two days, the price of LOOM has surged by over 181%.Īlthough the token was in a slight pullback at press time, it has hit a daily high of $0.1384 in the last 24 hours. This meant that the market still remained friendly to ETH bulls and if they successfully defended the $2,800 support level, the price could rise to confront resistance from the 50-day SMA at $3,040.Loom Network (LOOM) has surprised the cryptocurrency market by dropping a zero in the span of two days. On the upside, the SuperTrend indicator was still positive since moving below the price on February 6. Furthermore, the position of the Stochastic RSI at 27.4 painted near oversold conditions implying that there was still more room for the downside. Moreover, the Parabolic SAR turned negative on February 14 and flipped above the price, suggesting that ETH’s market had reversed negative. Once this happens, it would extend Ethereum’s losses. Additionally, although not a death cross, there was the possibility of the 100-day Simple Moving Average (SMA) crossing below the 200-day SMA in the near future. First, the position of the price in the liquidity zone implied that profit-taking at this zone would likely push the price lower. Several technical factors supported Ethereum’s pessimistic outlook. Increased sell orders from this territory endanger the smart contracts token with losses toward $2,190 coming into the picture.ĮTH/USD Daily Chart TradingView Chart: ETH/USD This level was within the liquidity zone ranging from $2,780 to $3,200. Ethereum Price To Hold Above $2,800įrom the daily chart below, it was evident that the selling pressure dropped ETH to a daily low at $2,854 as buyers franticly regrouped to prevent a slide below $2,800. Even the news of Twitter adding an Ethereum wallet to support its ETH tipping feature did little to prevent the selling. The developments added to the negative sentiment in markets that were already anticipating the Fed to raise interest rates. US President Joe Biden’s stated that the threat of Ukraine invasion was “very high” and there was “every indication” that Russia was “prepared to go into Ukraine.” Ethereum was down 6% on the day to $2,896 even as tensions in Ukraine intensified. A close below $2,800 would bring levels around $2,190 on the radar.įinancial and crypto markets were hit by yet another selloff as a tense macroeconomic climate threatened to push prices lower.Multiple technical factors indicated that ETH was at risk of further losses.Ethereum buyers scrambled to defend $2,800 as the crypto market sell-off intensified.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |