đ„ LOOM COIN ANALYSIS: BIG PUMP SOON! đ„đ
#DODOEmpowersMemeIssuance
--- $LOOM
LOOM/USDT Analysis â Bullish Breakout in Play!
LOOM/USDT has just broken out of a significant descending wedge, signaling a major shift in market sentiment! Currently trading at $0.06275 (+23.31%), this breakout is the first key sign that LOOM could be entering a bullish phase after a prolonged downtrend.
đ Pattern Overview:
The descending wedge, marked by lower highs and lower lows, often serves as a strong bullish reversal pattern. LOOM has consistently traded within this pattern, and todayâs breakout is historically a bullish signal!
Key Levels to Watch:
1. Immediate Resistance Zone: $0.08 - $0.10 â This region has acted as strong resistance multiple times. The breakout might soon test this zone.
2. Potential Targets:
First Target: $0.08 (psychological level)
Second Target: $0.10 (historical resistance)
3. Support Levels: If the price retraces, look for strong support around $0.048 - $0.050, aligning with the lower boundary of the wedge and previous accumulation zones.
đ Market Sentiment:
Momentum indicators are turning bullish with a +23.31% pump in the last 24 hours. Increased volume confirms that buyers are stepping in, suggesting bulls are ready to take charge!
đ§ What to Expect:
With the current technical setup, LOOM is poised for a solid upward push. Profit-taking might occur around $0.08 - $0.10, but if buying pressure remains strong, new highs could be on the horizon.
đĄ Strategy:
Entering: Consider entering on a retest of the breakout level, ideally between $0.05 and $0.06 for stronger confirmation of support.
Targeting: Aim for the $0.08 - $0.10 range for short- to mid-term gains, depending on resistance reactions.
đ Final Thoughts:
LOOM/USDT is currently in a prime position for a significant rally. This wedge breakout could mark the beginning of a larger trend reversal.
#CATIonBinance #BTCReboundsAfterFOMC #DODOEmpowersMemeIssuance #Write2Earn!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
LOOMUSDT: Perp 0.06085, +16.9%