Golem is at present the most effective performer amongst the main 100 cryptocurrencies on Monday.
GLM, the native token of the Golem ecosystem, is setting the development on Monday, as it’s outperforming the broader cryptocurrency market.
The broader market added 1% to its worth on Monday, with the entire 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 the most effective performer amongst the highest 100 cryptocurrencies on Monday. GLM has added greater than 40% to its worth to date right this moment and is buying and selling at $0.419 per coin. There isn’t any instant catalyst behind this rally. There isn’t any 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 over the past 24 hours. The technical indicators present that GOLEM is outperforming the broader crypto market in the intervening 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 at present in charge of the market.
The 14-day relative power 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 12 months.
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.
Nonetheless, GLM ought to comfortably defend its place above the $0.36 assist degree within the close to time period.
Binance is without doubt one of the largest cryptocurrency exchanges on the earth. It’s higher suited to extra skilled traders and it affords a lot of cryptocurrencies to select from, at over 600.
Binance can also be identified for having low buying and selling charges and a a number of of buying and selling choices that its customers can profit from, corresponding to; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.
WazirX is India’s largest crypto trade. Began in 2018, WazirX has grown to be probably the most trusted trade within the Indian crypto market. It is part of the binance group, serving customers in 180 nations.