Golem (GLMUSDT) established a long-term support range with the low it hit back in May 2022. After this date, a series of attempts by bears to push prices lower all failed.
On this chart, we have 6 major attempts when the "Long-term support" was challenged, all leading to a small bounce/upwards correction.
We saw lower highs coupled with a flat bottom, a classic accumulation pattern.
Mid-September was the last attempt at support, GLMUSDT started to move up and is now gaining in bullish momentum. Right now we have 5 consecutive weeks closing green, a rare event and a strong bullish consolidation signal. After this type of behaviour, a sudden surprise move tends to develop in the same direction the consolidation is taking place. We see 5 green weeks, the next major move therefore is likely to happen up.
Long-term support has been confirmed, a challenge of resistance is set to happen next.
There can be additional growth long-term, many times higher than what is shown on this chart.
Thank you for reading.
Your support is truly appreciated.
Namaste.
On this chart, we have 6 major attempts when the "Long-term support" was challenged, all leading to a small bounce/upwards correction.
We saw lower highs coupled with a flat bottom, a classic accumulation pattern.
Mid-September was the last attempt at support, GLMUSDT started to move up and is now gaining in bullish momentum. Right now we have 5 consecutive weeks closing green, a rare event and a strong bullish consolidation signal. After this type of behaviour, a sudden surprise move tends to develop in the same direction the consolidation is taking place. We see 5 green weeks, the next major move therefore is likely to happen up.
Long-term support has been confirmed, a challenge of resistance is set to happen next.
There can be additional growth long-term, many times higher than what is shown on this chart.
Thank you for reading.
Your support is truly appreciated.
Namaste.
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🚨 The difference between weak signals & PREMIUM trade-numbers lies in results. Stand apart from the crowd 👉 t.me/lamatrades/4
💥💥💥80% OFF Discount offer now!
t.me/masteranandatrades/6159
🏆 TOP Results
t.me/anandatrades/1183
💥💥💥80% OFF Discount offer now!
t.me/masteranandatrades/6159
🏆 TOP Results
t.me/anandatrades/1183
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.