Golem has been suffering from market conditions lately as well. It has been moving slowly and is currently breaking down into the key-area of support, the “last hope” for GNT. Should this support break and not hold the price stable or even show a minor reaction, there might be many more downsides for GNT.
Looking at technical indicators, the MKAST...
Targets are your green levels, red is support. Nice wedge with MACD indicating bullish momentum, RSI also indicating we have a lot of room to run.
Be sure to check out my other TA on xrp & yfi, requests are welcome
-Golem is respecting the 50ma on 12H period plus the trendline support
-A strong recovery by the Bulls and retested the resistance area at 1400 sat
-If GTN can't break this resistance line today, we might see a small retracement to trendline support
-4th attempt to might be the last chance to go higher
-Otherwise, the Bears will try to regain...
Current price ~ 666
On the weekly timeframe,
GNTBTC continues to paint higher lows and higher highs.
Buying volume is obviously larger than the selling volume for a while...
However, BTC looks like to make a move soon, our Alts position should be small.
This is my personal opinion, do you think like me? 😄
Target listed on chart, aiming for MA on weekly chart, flipping potential however i am long. Ascending scallop turned accumulation phase, this will likely lead to an upward breakout and continuation of the trend. Large reward little risk trade.