GNT/BTC: Technical analysis of possibly strong upsurges

BINANCE:GNTBTC   Golem / Bitcoin
The first indicators presented shows the Bollinger Bands becoming narrower while having price action moves above the 20-Week MA and the standard deviations curves widen apart. This is a positive predictor of a powerful trend to the upside. Knowing BINANCE:GNTBTC has high volatility which causes rather large wicks to occur and having smaller candle bodies, it can be a possible outcome too in that we only see a big wick upward once again. These can be signs of the recovery process following a powerful bear market.

Another indicator has been provided which never fails in telling the directional trends. The Average Directional Index ( ADX ) and Directional Indicator combined together are powerful tools. On the chart, the DI is showing an upward trend with a rather weak ADX . Although, the ADX crossed the 25 ADX value which means it is in a strong trend up with room to become a very strong trend or even extremely strong trend down the line.

So there is no doubt that we are in an upward trend using these indicators. The month of July looks promising to see greater movements for Golem network as their developments of Graphene for Intel Software Guard Extensions ( Intel SGX) - a software that can significantly increase the security and privacy in the Golem network and in the Blockchain industry as a whole will be rolled out. Stay tuned and keep a good lookout for these game changers in the Golem price action.
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