GLM BTC Golem Technical Analysis

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By Frans van Elst

Golem logo In this Golem technical analysis, we will examine the current price action, trading volume, key levels and indicators for GLM-BTC. Golem is an open-source blockchain project that aims to create a global, decentralized supercomputer by connecting idle computers and devices into a network. This network allows users to rent out their computing power for various tasks such as CGI rendering, scientific simulations, and machine learning. By leveraging the collective power of this decentralized network, Golem seeks to provide on-demand access to high-performance computing resources without the need for expensive hardware or specialized expertise.

Golem Price Overview:

As of May 08, 2024, Golem is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for GLM-BTC:

Consider bearish sentiment for Golem (GLMBTC) at 8.98e-06 BTC as technical analysis emphasizes weakened support and cautionary indicators for potential downturns.

Metric Value
Open (O) 1e-05
High (H) 1e-05
Low (L) 1e-05
Close (C) 1e-05
Volume (C) 221,077.00
  • 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 (%) -2.07%
3D Change (%) -7.33%
7D Change (%) 13.53%
30D Change (%) 11.55%
90D Change (%) 96.93%
YTD Change (%) 59.79%

Over the past three days, GLMBTC has fallen by approximately -7.33%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 13.53%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GLMBTC maintaining an upward trend of approximately 11.55%, despite intermittent fluctuations. Examining the last 90 days, GLMBTC has witnessed substantial rise of approximately 96.93%, reflecting strong long-term confidence. Year-to-date, GLMBTC has steadily appreciated by around 59.79%, 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 1.41487.
  • Momentum score is 0.58099.

GLM BTC Technical Analysis

Golem Trading Volume:

The trading volume for Golem (GLM) over the past 24 hours has been insignificant, with approximately 221,077.00 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 high zone, around 57.13836. This suggests that Golem is in bullish 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 high RSI and insignificant trading volume are high signals for potential upward movement.

Consider bearish sentiment for Golem (GLMBTC) at 8.98e-06 BTC as technical analysis emphasizes weakened support and cautionary indicators for potential downturns.

Take the next step in your exploration by delving into our detailed insights on GLM USDT Golem Technical Analysis; it’s a natural follow-up if you enjoyed this post.

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.

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