Golem is at present the finest performer amongst the main 100 cryptocurrencies on Monday.
GLM, the native token of the Golem ecosystem, is setting the pattern on Monday, as it’s outperforming the broader cryptocurrency market.
The broader market added 1% to its worth on Monday, with the whole 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% in the final 24 hours and is buying and selling round $1,700 regardless of the Merge getting nearer.
GLM is the finest performer amongst the prime 100 cryptocurrencies on Monday. GLM has added greater than 40% to its worth to date at this time and is buying and selling at $0.419 per coin. There is not any speedy catalyst behind this rally. There is not any upcoming occasion in 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 final 24 hours. The technical indicators present that GOLEM is outperforming the broader crypto market at the second.
The MACD line is deep inside the optimistic territory, indicating bullish momentum. It has been inside that area since September 8, indicating that the bulls are at present in command 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 may surge previous the first main resistance degree at $0.51 earlier than the finish of the day. In the occasion of an prolonged bullish run, GLM may surge previous the $0.60 resistance degree for the first time since the begin of the 12 months.
We are nonetheless in a bearish market, and the bears may regain partial management. If that occurs, GLM may slip under the $0.40 psychological degree over the subsequent few hours.
However, GLM ought to comfortably defend its place above the $0.36 assist degree in the close to time period.
Binance
Binance is considered one of the largest cryptocurrency exchanges in the world. It is healthier suited to extra skilled buyers and it presents a lot of cryptocurrencies to select from, at over 600.
Binance can 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, equivalent to; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.
Wazirx
WazirX is India’s largest crypto alternate. Started in 2018, WazirX has grown to be the most trusted alternate in the Indian crypto market. It is part of the binance group, serving customers in 180 international locations.
