Loom Network | Today's Close Gives It Away... 50% Target Mapped

25 Feb 2022

Loom Network (LOOMBTC) has two strong bullish signals coming out.

The first one is the bullish engulfing pattern.
The second one is the break above EMA10/50/100/300 and MA200 all in a single day.

EMA300, which is the highest of all EMAs on this chart, is sitting at 198 satoshis (0.00000198), closing above this level confirms the break above resistance and also the bullish engulfing pattern.

To top it all up, we have a bullish MACD with the RSI now strong.

On the other hand, if LOOMBTC closes below EMA50 (0.00000187), we will see a test of lower support before additional growth (this is the less likely scenario).

We are looking bullish.
50%+ Target mapped on the chart.

Namaste.