Loom Network Price Prediction 2023-2030: Will LOOM Reach $1 Soon?

• Bullish LOOM price prediction ranges from $0.739 to $0.783.
• LOOM price might also reach $1 this 2023.
• LOOM’s bearish market price prediction for 2023 is $0.039.

The revelation of blockchain and decentralized applications caught various developers’ attention; however, at the same time, there were still challenges regarding scalability and usability during the initial development stages. 

To solve this new challenge, Loom Network has decided to enter the Web3 world by providing developers with the scalability and usability they need to build high-performance user-facing apps today. Similarly, LOOM, a proof-of-stake token, has garnered a lot of attention from diverse investors and users because of the revolutionary features provided by the Loom Network.

In this Coin Edition’s LOOM price prediction article, we will focus on the price analysis of the token and forecast its price for the years 2023, 2024, 2025, and 2025, up until 2030. If you’re interested in learning more about this, keep reading this article.

LOOM Network Market Overview

What is Loom Network?

Loom Network dubs itself as the multichain interop platform with its production starting way back in 2018. Loom Network boasts that it has been optimized for scaling high-performance Dapps. Loom Network. Loom Network focuses on servicing developers who require a fast and smooth user experience. Loom allows developers to integrate assets from major chains such as Bitcoin, Ethereum, Binance Chain, and Tron.

Some of the reasons why some developers utilize Loom because of its features such as making production-ready for its Dapps, frictionless user experience, access to a massive user base, and future-proofing the Dapp makes it an ideal choice for developers. In other words, it is a platform that is meant “for developers, by developers.”

When it comes to security, it has been reported that Loom Basechain is a DPoS blockchain with more than 21 external validators that are spread across the global world. Moreover, there are currently more than 247,828,530 LOOM staked enhancing the security protocol of the protocol. To ensure everything is up-to-date, Loom has also been audited by Trail of Bits — an information security company specializing in blockchain tech.LOOM is a proof-of-stake token and secures the network. The token can also be utilized for making payments on the Loom Network. Apart from the fast, scalable, and frictionless user experience, the Loom network also offers access to a massive user base and security.

LOOM Current Market Status

LOOM is already ranked in the 100 position based on its market capitalization, according to CoinMarketCap. The current circulating supply of the LOOM platform’s native token is 1,219,425,698 LOOM, while its total supply is 1,300,000,000.  

Moreover, LOOM is priced at $0.2155, experiencing a 12.35% surge in one day. With a market cap of $262,863,109, LOOM also experienced a 67.50% spike in seven days. Moreover, the trading volume is valued at $200,053,563, after experiencing a rise of 7.34%% in one day, indicating that the demand for this token is still rising.

LOOM Price Analysis 2023

Will LOOM’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the digital asset industry affect LOOM’s sentiment over time? Read more to find out about LOOM’s 2023 price analysis.

LOOM Price Analysis – Bollinger Bands

The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

It seems that LOOM was trading upwards in the top-half region of the Bollinger Bands. Moreover, the candlesticks hit and crossed above the upper band; however, they retraced back inside within the Bollinger bands region. The BBW also highlighted that the Bands are still expanding. There may be a chance that the bands may continue to expand as there are no indications of the bands lowering. It should be noted that any subsequent fall over the coming days could make it fall to the bottom half of the Bollinger Band.

LOOM Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is regarded as the overbought region, and traders expect the price could fall soon.

The RSI is currently valued at 82.06 clearly showcasing that the altcoin is currently in the overbought region. It seems that RSI entered the overbought region in September, which caused the price to experience a massive spike. 

Comparing the past candlesticks, LOOM was trading in a stable condition, meanwhile, the current price action forcefully made the altcoin breakthrough different levels of resistance. Looking at the past RSI action, it seems that LOOM hardly ever entered the overbought region and this is one of the few moments where it has stayed for a long time. Looking at the RSI, there is still no indication that it might end its 23-day overbought raid.

LOOM LOOM Price Analysis – MACD Indicator

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data.

Looking at the charts, the MACD reports that the green bars are growing on the indicator, which is a sign that the bullish sentiment may continue to rise. With a massive spike, it is clear that the bulls are continuously reigning over the LOOM market further confirmed by the Bull vs Bear Indicator. The trend is very strong which is indicated through the growing ADX value. Moreover, the buying volume is above 80%, at the writing time.

LOOM Price Prediction 2023-2030 Overview

LOOM Price Prediction 2023

Observing the LOOM/USDT 1-Day chart, the candlesticks were trading near the critical support line at $0.03672. After that, LOOM started to experience a massive surge which broke through the $0.10326, $0.16537, and  $0.21383, resistance levels. Although the ticks broke the $0.21383 resistance, its candlesticks still held the position at that level. Traders are closely this price action as LOOM is one of the few altcoins that is able to generate a bullish sentiment when the crypto market is under the bear market. Ultimately, traders need to wait for more price action before deciding the trade for LOOM.  

Meanwhile, the forecast for LOOM remains to be bullish and is expected to reach beyond the level of $0.739. The bearish price prediction for LOOM ranges from $0.01969 to $0.00807. However, on the off chance, that LOOM experiences an extremely bullish sentiment again, there is a high possibility that it trade beyond the level of $1.

LOOM Price Prediction – Resistance and Support Levels

The massive spike in LOOM has broken through several resistance levels. It seems that LOOM was trading in between the $0.10326 and $0.03672 for a long time. Although it experienced huge spikes earlier, it faced a significant fall making it fall back near the support line. It should be noted that traders could face a similar pattern if LOOM fails to cling on to its current support line, which is $0.16537. Hence, traders need to be careful while entering this unexpected market.

LOOM Price Prediction 2024

Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. LOOM could also be affected by Bitcoin halving and could trade beyond the price of $1.289 by the end of 2024.

LOOM Price Prediction 2025

LOOM could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, LOOM will continue to rise in 2025 forming new resistance levels. It is expected that LOOM will trade beyond the $1.836 level.

LOOM Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, LOOM could tumble into its support region of $6. Moreover, when LOOM remains in the oversold region, there could be a price correction soon. LOOM, by the end of 2026, could be trading beyond the $2.679 resistance level after experiencing the price correction.

LOOM Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. LOOM is expected to rise after its slumber in the bear season. Moreover, LOOM could even break more resistance levels as it continues to recover from the bearish run. Therefore, LOOM is expected to trade at $2.982 by the end of 2027.

LOOM Price Prediction 2028

Once again, the crypto community is looking forward to this year as there will be a Bitcoin halving. Alike many altcoins, LOOM will continue to form new higher highs and is expected to move in an upward trajectory. Hence, LOOM would be trading at $3.827 after experiencing a massive surge by the end of 2028. 

LOOM Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, LOOM could be trading at $4.325 by the end of 2029.

LOOM Price Prediction 2030

After witnessing a bullish run in the market, LOOM and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, LOOM could be trading at $4.217.

LOOM Price Prediction 2040

The long-term forecast for LOOM indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. However, LOOM may face a slight fall before starting its upward journey once again. It is expected that the average price of LOOM could reach $9.12 by 2040.

LOOM Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, LOOM could surpass the resistance level of $23.22.  

Conclusion

LOOM has been part of the watch-out list for many investors as it aims to make its mark in the blockchain industry. If investors continue to show interest in LOOM and add these tokens to their portfolio, then, it could continue to rise up. LOOM’s bullish price prediction shows that it could pass beyond the $0.739 level. Moreover, LOOM could surpass the $23.22 level by the end of 2050. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.