There’s No Support for Altcoin That’s Exploded Over 285% in a Month, Predicts More Pain Looming.

A crypto trader is issuing a warning on a low-cap altcoin that has enjoyed triple-digit price appreciation in a month.

Pseudonymous crypto analyst Altcoin Sherpa tells his 196,900 followers on the X social media platform that the decentralized applications (DApps) platform Loom Network (LOOM) is “on the way down” after experiencing “fast bull moves” over the past 30 days.

LOOM rose from its September 19th close of $0.0462 to a five-year high of $0.407 earlier this week.

According to Altcoin Sherpa, LOOM could rise modestly over the short term before resuming the downtrend and inflicting “more pain” as it lacks “any support.”

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