In this Golem technical analysis, we will examine the current price action, trading volume, key levels and indicators for GLM-BTC. Sure, here are three sentences about Golem (GLM) cryptocurrency: Golem (GLM) is a decentralized global supercomputer that leverages blockchain technology and a distributed network of computers to provide on-demand access to computing power. With Golem, users can rent out their idle computer resources to others in exchange for GLM tokens, creating a decentralized marketplace for computing services. By utilizing this innovative approach, Golem aims to disrupt the traditional computing and cloud infrastructure industries while providing a more efficient and cost-effective solution for users.
Golem Price Overview:
As of October 03, 2023, Golem is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for GLM-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 165,555.00 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Golem reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for GLM-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Golem is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.15% |
| 3D Change (%) | -4.72% |
| 7D Change (%) | 0.76% |
| 30D Change (%) | 4.88% |
| 90D Change (%) | 7.94% |
| YTD Change (%) | -38.50% |
Over the past three days, GLMBTC has dropped by approximately -4.72%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.76%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GLMBTC maintaining an upward trend of approximately 4.88%, despite intermittent fluctuations. Examining the last 90 days, GLMBTC has witnessed substantial rise of approximately 7.94%, reflecting strong long-term confidence. Year-to-date, GLMBTC has steadily depreciated by around -38.50%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Golem Live Chart:
You can access a live price chart for GLM-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.28993.
- Momentum score is 0.04882.
GLM BTC Technical Analysis
Golem Trading Volume:
The trading volume for Golem (GLM) over the past 24 hours has been insignificant, with approximately 165,555.00 BTC traded against GLM. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): GLM is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Golem is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for GLM-BTC is currently in the neutral zone, around 50.50813. This suggests that Golem is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Golem (GLM-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
