Golem (GNT) is up 10% for the day while the rest of the market bleeds. Normally, this would not be a big deal but the chart above for GNT/USD on the weekly time frame shows us exactly why it is a big deal this time. RSI for GNT/USD peaked around January 2018 as shown on the chart. Since then, it has been on a steady decline trading in a falling wedge. After an extensive correction of nine months, RSI for GNT/USD has finally broken out of this falling wedge to the upside. This means that Golem (GNT) is one heartbeat away from breaking the downtrend against the US Dollar (USD) and beginning a new trend.
Earlier this year, John McAfee had predicted that Golem (GNT) would reach a price of $5 in July. That did not happen then, but we now know the reasons behind such a bold assumption. The charts look favorable for a rally to $5 by end of year but the fundamentals of Golem (GNT) have to be solid enough for that to materialize. Back then we did not know much about Golem (GNT) but now that they have a working product, it makes sense to see that interest in Golem (GNT) is on the rise.
Golem (GNT) has made a lot of progress these past nine months. The same cannot be said of most other altcoins and ICO projects because the majority of them are either scams or useless tokens with no real use cases. Golem (GNT) on the other hand had a well defined use case from the very beginning but now it has a finished product that is ready to use. Golem (GNT) is focused on three things: computing power, rendering and machine learning. Individuals can run their computers to complete these tasks in exchange for compensation in the form of Golem Network Tokens (GNT).
Read My Detailed Analysis Here: cryptodaily.co.uk/20...of-5-by-end-of-year/
Earlier this year, John McAfee had predicted that Golem (GNT) would reach a price of $5 in July. That did not happen then, but we now know the reasons behind such a bold assumption. The charts look favorable for a rally to $5 by end of year but the fundamentals of Golem (GNT) have to be solid enough for that to materialize. Back then we did not know much about Golem (GNT) but now that they have a working product, it makes sense to see that interest in Golem (GNT) is on the rise.
Golem (GNT) has made a lot of progress these past nine months. The same cannot be said of most other altcoins and ICO projects because the majority of them are either scams or useless tokens with no real use cases. Golem (GNT) on the other hand had a well defined use case from the very beginning but now it has a finished product that is ready to use. Golem (GNT) is focused on three things: computing power, rendering and machine learning. Individuals can run their computers to complete these tasks in exchange for compensation in the form of Golem Network Tokens (GNT).
Read My Detailed Analysis Here: cryptodaily.co.uk/20...of-5-by-end-of-year/