Golem is presently one of the best performer amongst the main 100 cryptocurrencies on Monday.
GLM, the native token of the Golem ecosystem, is setting the pattern on Monday, as it’s outperforming the broader cryptocurrency market.
The broader market added 1% to its worth on Monday, with the overall market cap nonetheless above $1 trillion.
Bitcoin has climbed above the $22k resistance degree after rallying by greater than 11% over the previous seven days. Ether is down by greater than 1% within the final 24 hours and is buying and selling round $1,700 regardless of the Merge getting nearer.
GLM is one of the best performer amongst the highest 100 cryptocurrencies on Monday. GLM has added greater than 40% to its worth up to now at this time and is buying and selling at $0.419 per coin. There is no such thing as a speedy catalyst behind this rally. There is no such thing as a upcoming occasion within the Golem ecosystem
Key ranges to look at
The GLM/USD 4-hour chart is extraordinarily bullish as Golem has been performing positively during the last 24 hours. The technical indicators present that GOLEM is outperforming the broader crypto market in the mean time.
The MACD line is deep inside the constructive territory, indicating bullish momentum. It has been inside that area since September 8, indicating that the bulls are presently in charge of the market.
The 14-day relative energy index of 80 reveals that GLM will quickly enter the overbought area if the rally continues.
If the bulls proceed to be in cost, GLM might surge previous the primary main resistance degree at $0.51 earlier than the tip of the day. Within the occasion of an prolonged bullish run, GLM might surge previous the $0.60 resistance degree for the primary time because the begin of the yr.
We’re nonetheless in a bearish market, and the bears might regain partial management. If that occurs, GLM might slip beneath the $0.40 psychological degree over the subsequent few hours.
Nevertheless, GLM ought to comfortably defend its place above the $0.36 assist degree within the close to time period.
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