Golem (GLM) Technical Analysis 2021 for Crypto Traders

Golem (GLM) Technical Analysis 2021 for Crypto Traders

In Golem (GLM) Technical Analysis 2021, we use past statistics, price analysis, RSI, RVOL, and much other information about GLM to analyze the future movement of the cryptocurrency. 

Golem Network is a decentralized computation network, a new way to allocate excess computing power to those who need it, on-demand. It creates a peer-to-peer network in which users gather together to buy and sell computation equally and break down complex tasks into smaller subtasks in the network. Golem has no central authority, and no user is more or less important than another user.

Golem (GLM) Current Market Status

According to CoinGecko, the GLM price is trading at $0.29 with a 24-hour trading volume of $7,909,866, at the time of writing. However, GLM has increased by 3.5% in the last 24 hours. 

In addition, GLM has a circulating supply of 1,000,000,000 GLM. Currently, GLM trades in Binance, OKEx, Huobi Global, Upbit, and HitBTC.

Golem (GLM) Technical Analysis 2021 

Golem (GLM) holds the 148th position on CoinGecko right now. The recent development and upgrades might push GLM to reach new heights. Now, let’s deep dive into the GLM technical analysis 2021. The monthly time frame chart of Golem (GLM) is shown below.

GLM/USDT Higher High and Higher Low pattern (Source: Tradingview)

The above chart mentioned the “Higher High and Higher Low pattern”. This pattern is an upward trend, and the value of tokens  is generally increasing. As shown in the figure above, GLM changed from a bearish to bullish trend at the beginning of this period. 

GLM trades in a range of $0.3. If the price breaks the trend line support level of $0.16 then it will lead to a further drop up to the $0.01 Level. If the pattern continues to the top side, then it will reach the $0.72 level soon.

Golem (GLM) RSI

The below chart shows the relative strength index (RSI) of GLM. 

GLM RSI (Source: TradingView)

As shown in the below chart, RSI remains at 52. This shows that GLM’s price is in a neither overbought nor oversold state. However, this shows that traders can trade fearlessly.

Golem (GLM) RVOL

The below chart shows the Relative Volume of GLM. RVOL is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.

GLM RVOL(Source: TradingView)

Notably, in the last week of June, it is found that the RVOL of GLM observed is stronger. Currently, the RVOL of GLM stays below the cutoff line which indicates the weaker participants in the current trend.

Golem (GLM) Moving Average

GLM’s Moving Average (MA) is shown in the chart below. Moving Average is a part of technical analysis that supports traders to find trends.

GLM MA (Source: TradingView)

In the 50 MA (Short-term), the price of the GLM is in a bearish state, and still, it has not broken the 200 MA. Once it breaks the 200 MA level of GLM, it completely goes to a bearish state.

Currently, the price of GLM is trading near to the 200 MA level so we can expect some reversal at these points.

Golem (GLM) Price Comparison With Bitcoin

The below chart shows the price comparison between GLM and BTC. 

GLM vs BTC Price Comparison chart(Source: TradingView)

The trend of the BTC and GLM is moving at the same level as the trend.

Conclusion

With the ongoing developments and upgrades that are taking place within the GLM platform. Golem has a great future ahead in this crypto market. However, GLM can reach new heights.

Bullish GLM price prediction 2021 is $0.7. As mentioned above, it may reach great heights, however reaching $1, if investors have decided that GLM is a good investment in 2021.

FAQ

What is GLM?

GLM is a decentralized supercomputer that anyone can access. The system consists of the total power of the user’s machine, from a personal computer to an entire data center. Its native coin is Golem.

Where can you purchase GLM?

GLM is listed on many cryptocurrency exchanges that include Binance, OKEx, Huobi Global, Upbit, and HitBTC. It is available for trading against crypto fiat coins, stablecoins, and other cryptocurrencies.

Will GLM reach a new ATH soon?

With the ongoing developments and upgrades within the GLM platform, it has the high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.