Loom Network (LOOMUSD) Price Forecast: October 18
The Loom Network pair remains strongly bullish above the resistance zone and remains a buy signal for the coin holders. In case the bulls’ pressure breaks up the resistance level of $0.52748, the coin price may increase further to a $0.50000 upper high trend line which indeed will be a turnaround for the coin holders.
Key Levels:
Resistance Levels: $1800.00 $1900.00, $2000.00
Support Levels: $1400.00, $1300.00, $1200.00
LOOM (USD) Long-term Trend: Bullish (Daily Chart)
It’s nice to see a strong buying reaction from the LOOMUSD buyers on the higher time frame. This is clear as we can see the prices trading and remaining strong above the resistance levels facing the upper resistance area indicating a strong bullish trend. However, the recent market has favored the bulls.
The coin has been making higher highs and higher lows in previous actions; this has made it possible for the price to maintain an uptrend in recent times.
The coin buyers made a significant increase to a $0.39290 high level above the two EMAs, resulting in intraday gains. Hence, staying above the resistance trend lines indicates a strong possibility for a bullish correction.
A strong push by the long traders above the $0.52748 previous high point with a daily candle closing could signify a shift in the market dynamics.
In a like manner, the Loom Network pair however shows the continuation of bullish sentiment by pointing up on the daily stochastic. Thus, the next bulls’ target might be the $0.50000 high level soon in its long-term outlook.
LOOM (USD) Medium-term Trend: Bullish (4H Chart)
Despite the interference of short-term traders in the price flow, the medium-term time frame market of Loom Network shows a bullish race. 
The coin price can also be seen trading strongly above the moving average. This shows that buyers are currently gaining more strength in the market.
The sustained bull’s pressure on the coin at the $0.35374 supply level in the past action has led to its upward stability in its recent high.
Additional buying pressure pushed the price of LOOMUSD to a $0.36601 resistance level above the critical levels as the 4-hour session begins today. This will however give the buy traders the tendency to further ladder up the trend. To push the price above the supply zone more buyers’ participation is a prerequisite.
Notably, there is a possibility of a further increase in the price of Loom Network, if the buy traders increase their price actions and all the current support level holds, a psychologically key level at the $0.5000 supply level might be reached soon in its medium-term time frame.
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