GLM USDT 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-USDT. Golem is an open-source, decentralized global marketplace for computing power that utilizes blockchain technology to facilitate secure and efficient transactions. The platform allows users to rent out their idle computer power to those in need of it, creating a decentralized and democratic alternative to traditional cloud computing services. By leveraging the power of blockchain and cryptocurrency, Golem aims to revolutionize the way we think about computing resources and create a more equitable and accessible digital economy.

Golem Price Overview:

As of May 08, 2024, Golem is trading at approximately 0.5628 USDT. Let’s dive into the detailed price action for GLM-USDT:

Navigate Golem’s (GLMUSDT) potential downturns at 5.63e-01 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.5713
High (H) 0.5847
Low (L) 0.5538
Close (C) 0.5628
Volume (C) 12,414,295.90
  • Open (O): The opening price for today’s trading session was approximately 0.5713 USDT.
  • High (H): Golem reached a daily high of around 0.5847 USDT.
  • Low (L): The daily low for GLM-USDT was approximately 0.5538 USDT.
  • Close (C): At the time of analysis, Golem is trading near its daily close of 0.5628 USDT.
Metric Value
1D Change (%) -1.49%
3D Change (%) -9.31%
7D Change (%) 22.27%
30D Change (%) -3.03%
90D Change (%) 171.88%
YTD Change (%) 135.78%

Over the past three days, GLMUSDT has decreased by approximately -9.31%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 22.27%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GLMUSDT maintaining a downward trend of approximately -3.03%, despite intermittent fluctuations. Examining the last 90 days, GLMUSDT has witnessed substantial rise of approximately 171.88%, reflecting strong long-term confidence. Year-to-date, GLMUSDT has steadily increased by around 135.78%, 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-USDT 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 1.51715.
  • Momentum score is 0.6191.

GLM USDT Technical Analysis

Golem Trading Volume:

The trading volume for Golem (GLM) over the past 24 hours has been insignificant, with approximately 12,414,295.90 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Golem is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for GLM-USDT is currently in the high zone, around 55.14599. This suggests that Golem is in bullish territory.

Analysis from TradingView:

Our Key Takeaways:

Golem (GLM-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the high RSI and insignificant trading volume are high signals for potential upward movement.

Navigate Golem’s (GLMUSDT) potential downturns at 5.63e-01 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Unlock additional insights on GLM BTC Golem Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of 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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