glm price prediction
As per the Golem Price Prediction, the $0.1687 is a major support zone or demand zone, in this zone Golem Price took support multiple times back in last year. In the last year first, it took support on Nov. 9th then on Nov. 14th and the next one was a month later on Dec. 28th, this shows the support zone’s major strength and reliability and also the importance for the Golem coin Price.
However, it is also been observed that the Golem coin Price has faced multiple times rejections from the supply zone which is at $0.2760 which highlights the strength of the supply zone. We get the idea that bears are sitting very tight at the supply zone and pushing the Golem coin price down.
Recently, the Golem coin price faced rejection on April 21st, 2023. Within two weeks Golem coin price broke the nearest support zone of $0.2223 & reached back to the major support of $0.1687. It is also been observed that the Golem coin price took support on the demand zone and it spiked on June 15th and tried to go upwards the trend barely did last for some time but it faced rejection once more on June 23rd from the nearest resistance zone which was at $0.2223.
It can also be seen that the price effectively follows both trendlines. Eventually, it became a channel that is pressing the price to go downhill. Meanwhile, the Golem coin price has seen a significant fall of around 14.88% last month. The Golem coin price plummeted by 0.56% in the last six months. Moreover, the Golem coin’s year-to-date return is slightly positive with an increase of 0.28%.
On the day of publishing, the Golem coin Price is at $0.1790. It might reach $0.1621 soon.
Source: GLM/BINANCE USD.1D.BINANCE by TradingView
On the day of publishing, the price is going downward on the 1D chart. The Golem coin Price is below the 50 & 200 EMA (exponential moving average), which is rejecting the trend downwards. Investors’ sentiments regarding the Golem coin are negative and bearish.
The MACD line is showing a bullish crossover but it is in the negative zone until and unless it touches or trades over the zero line the indication can’t be treated as a strict buy. When the MACD line is below the zero line, it is an indication that the current momentum is negative and that the price may decrease.
The Stochastic is a momentum oscillator that measures the speed movements and change of price movements. RSI is a popular tool used in trading to chart the strength or weaknesses of a stock or market. When both indicators are in agreement, it provides a strong signal that the trend will continue in the same direction.
The relative Strength Index (RSI) showcases the downtrend momentum of the Golem coin. RSI was at 45.38 below the median line which highlights the GLM further in a downward direction & Stochastic is also in the negative zone.
The technical parameters of GLM price suggest the continuation of the downtrend over the daily time frame chart. The GLM price reflects a pessimistic view at the moment. Major legitimate indicators MACD, RSI, S.RSI, and EMA, flaunt negative signals about the Golem coin price.
The amount of Golem coin price traded in a day is $2,211,135. As observed from the volume graph, the trading activity is low in the Golem coin and the price trading at the demand zone is seen on the chart. Therefore, the Golem coin price can push the price upwards as the sentiments are negative.
The Golem price prediction analogy suggests that the sentiments and perspectives of investors and traders regarding the Golem coin price are bearish in the 1D timeframe. The Golem coin price reflects a pessimistic view at the moment. The technical parameters for the Golem coin price indicate bearish pressure.
Technical Levels:
In this article, the views and opinions stated by the author, or any people named are for informational purposes only. They don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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