Golem (GLM) Technical Analysis 2021 for Crypto Traders

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Golem (GLM) is one of the top cryptocurrencies by market capitalization. It is the first decentralized global market for computing power. Golem is a decentralized supercomputer that anyone can access. Golem’s main goal is to make the utilization of computing power more affordable and accessible to everyone.

Golem (GLM) is the at the moment #4 cryptocurrency by market capitalization and is growing very rapidly. Golem (GLM) is a decentralized peer-to-peer computing platform that allows you to rent out your computer’s resources to other people who need them.

Now at the time of writing, Golem (GLM) is ranked #1 by market cap with a huge $1.2 billion dollar market cap, while the circulating supply of Golem (GLM) is 146 million coins. The price of Golem (GLM) is $0.45 with a 24-hour volume of $106,000.00. The price of Golem (GLM) has increased by 5.89% over the past 24 hours.

We utilize historical data, price analysis, RSI, RVOL, and other information about GLM to evaluate the cryptocurrency’s future movement in Technical Analysis of Golem (GLM) for 2021. 

The Golem Network is a decentralized computation network that provides a novel method to distribute surplus computing power to those who need it on-demand. It provides a peer-to-peer network where users may purchase and sell compute on an equitable basis and break down complicated jobs into smaller subtasks. There is no central authority in Golem, and each user is more important than another.

Current Market Situation for Golem (GLM)

At the time of writing, the GLM price was trading at $0.29, with a 24-hour trading volume of $7,909,866, according to CoinGecko. GLM, on the other hand, has risen by 3.5 percent in the past 24 hours. 

GLM also has a 1,000,000,000 GLM supply in circulation. GLM is currently traded on Binance, OKEx, Huobi Global, Upbit, and HitBTC, among other exchanges.

Golem (GLM) Technical Analysis 2021 

On CoinGecko, Golem (GLM) is now ranked 148th. GLM may be pushed to new heights by current development and improvements. Let’s take a closer look at the GLM technical analysis for 2021. The chart of Golem (GLM) on a monthly time period is given below.

Golem (GLM) Technical Analysis 2021 for Crypto TradersHigher High and Higher Low trend in GLM/USDT (Image courtesy of Tradingview)

The “Higher High and Higher Low pattern” was highlighted in the previous graphic. This is an upward trend, and the value of tokens is rising in general. GLM shifted from a bearish to a bullish trend at the start of this era, as seen in the graph above. 

GLM trades in a $0.3 range. If the price breaks through the $0.16 trend line support level, it will continue to fall to the $0.01 level. If the trend continues to the upward, the price will shortly hit $0.72.

RSI for Golem (GLM)

The relative strength index (RSI) of GLM is seen in the chart below. 

Golem (GLM) Technical Analysis 2021 for Crypto TradersRSI GLM (Source: TradingView)

The RSI is still at 52, as seen in the graph below. This indicates that the price of GLM is neither overbought nor oversold. This, on the other hand, demonstrates that merchants may trade without worry.

RVOL Golem (GLM)

The Relative Volume of GLM is shown in the graph below. RVOL is a trading volume indicator that shows how current trading volume has changed over time in comparison to past trading volume.

Golem (GLM) Technical Analysis 2021 for Crypto TradersRVOL GLM GLM RVOL (Image courtesy of TradingView)

In particular, the RVOL of GLM was shown to be greater in the final week of June. GLM’s RVOL is now below the cutoff line, indicating weaker participation in the present trend.

Moving Average for Golem (GLM)

The chart below depicts GLM’s Moving Average (MA). A moving average is a tool used in technical analysis to help traders spot trends.

Golem (GLM) Technical Analysis 2021 for Crypto TradersMA GLM (Image courtesy of TradingView)

The price of the GLM is bearish in the 50 MA (short-term), and it has yet to break beyond the 200 MA. It fully shifts to a bearish condition after it breaches the 200 MA level of GLM.

The price of GLM is now trading around the 200 MA level, therefore we may predict a reversal at these levels.

Comparison between Golem (GLM) vs Bitcoin

The price comparison between GLM and BTC is shown in the graph below. 

Golem (GLM) Technical Analysis 2021 for Crypto TradersChart comparing the prices of GLM and BTC (Source: TradingView)

The BTC and GLM are moving in lockstep with the overall trend.

Conclusion

With the continuous improvements and enhancements to the GLM platform. In current crypto economy, Golem has a bright future. GLM, on the other hand, has the potential to soar to new heights.

$0.7 is the bullish GLM price forecast for 2021. As previously said, it has the potential to reach tremendous heights, including $1, if investors believe that GLM is a smart investment in 2021.

FAQ

What exactly is GLM?

Anyone may use GLM, which is a decentralized supercomputer. The system is made up of the overall computing power of the user’s machine, which may range from a single computer to an entire data center. Golem is the local currency.

GLM is available for purchase in a variety of places.

Binance, OKEx, Huobi Global, Upbit, and HitBTC are just a few of the cryptocurrency exchanges that have GLM listed. It may be traded for crypto fiat currencies, stablecoins, and other cryptocurrencies.

Will GLM be able to set a new ATH in the near future?

With the GLM platform’s continuous improvements and enhancements, it has a good chance of achieving its ATH shortly.

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

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Golem (GLM) is a decentralized global supercomputer that will enable anyone to rent out their computer power for a fee. Golem is a blockchain-based, global market for computing power. Golem is a decentralized global supercomputer that provides access to other people’s computer power, in a decentralized environment. “Golem” means “Golem – a clay golem is a traditional figure in Jewish mythology, a creature made from clay that could be animated by a spell and controlled by a Jew. Golem is a program that can be used to execute a task given to it at a specified price, and to pay the provider only if the task is completed successfully. “. Read more about gnt crypto and let us know what you think.

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About the author

Emilia James
By Emilia James

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