Golem (GNT) - Distributed Computing
Updated
Golem is by far one of my most favorite projects out there, their goal is to decentralize computing (mainly focusing on the CGI scene now) which can be a lot cheaper and efficient that regular render farms or server renting/building. Servers have to be updated with the newest hardware continiously to stay relevant and this cost's a lot of money (hardware/location). Golem offers us a new solution, people around the world collectively join their network and provide it with computing power. Not only can the computing power of this network easily exceed very large supercomputers in the future, but it is also efficient since demand and supply will dynamically scale how many pc's are participating and thus keep energy consumption fairly sustainable climate friendly.
Their main focus and goal is now to provide a service for CGI rendering (Currently supporting Blender) for both coorperations and individuals. From how I observe it Golem is still in it's early phase but once things get going it will be an amazing idea which also uses the blockchain (tokens) for tasks.
I do think Golem can scale much futher than just CGI rendering (current focus) and their real power lies in microprocessing for businesses. If business can borrow computing power from their network for cloudbased computing (think of all the app's you are using all the time) then they don't have to build/update/manage their own expensive servers which can cut a lot of unneccesary costs.
Anyways, from a TA perspective, golem just finished it's major downtrend and broke up from a the resistance line! TA-wise we are expecting a retest of 4 of the Major Downtrend (also shown in the chart) around 8000-9000 satoshis, currently trading at 5000, so nearly a 2x increase from here. After testing this leven we can see small pullback and probably a cup and handle forming, but longterm we are bullish and expect it to break this resistance too, eventually heading to 11000-16000!
Interesting times ahead, I do say it's a good-great hold from here long-term.
Please leave a like and/or comment and if you want you can also follow my Telegram Feed which has many more updates (Tradingview can be kind of annoying scrolling through long update walls) and there is also a casual chat where everybody can talk about trading related content!
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Good luck trading, may the trading gods be with us!
-TheTrex
Their main focus and goal is now to provide a service for CGI rendering (Currently supporting Blender) for both coorperations and individuals. From how I observe it Golem is still in it's early phase but once things get going it will be an amazing idea which also uses the blockchain (tokens) for tasks.
I do think Golem can scale much futher than just CGI rendering (current focus) and their real power lies in microprocessing for businesses. If business can borrow computing power from their network for cloudbased computing (think of all the app's you are using all the time) then they don't have to build/update/manage their own expensive servers which can cut a lot of unneccesary costs.
Anyways, from a TA perspective, golem just finished it's major downtrend and broke up from a the resistance line! TA-wise we are expecting a retest of 4 of the Major Downtrend (also shown in the chart) around 8000-9000 satoshis, currently trading at 5000, so nearly a 2x increase from here. After testing this leven we can see small pullback and probably a cup and handle forming, but longterm we are bullish and expect it to break this resistance too, eventually heading to 11000-16000!
Interesting times ahead, I do say it's a good-great hold from here long-term.
Please leave a like and/or comment and if you want you can also follow my Telegram Feed which has many more updates (Tradingview can be kind of annoying scrolling through long update walls) and there is also a casual chat where everybody can talk about trading related content!
PS: Just join it, helps me out :D
Good luck trading, may the trading gods be with us!
-TheTrex
Note
Golem is currently #40th with a Marketcap of 343B USD, compare this to DOGE on #35 with Marketcap of 548B :)Note
Marketcap is in M* not BillionTrade active
Note
Still following my chartNote
Golem might do the cup and handle like indicated in green, then after retest and succesfull close above the diagonal line we can see more up movement.Trade active
Golem has not broken some important resistance and is most likely heading for higher price levels!Note
^ not = now*Note
GNT getting interesting again! MACD 12H and Stoch RSI will break up soon and we almost retested (4) of uptrend, I would definitely buy some now 6400 (probably 50% here) and 50% at 6000, with stoploss below 5500! Target is 7200-7600. This is a great trade! Trade active
Note
If it manages to break above 9000 will be going to 11000-15000, since we have good probability of having entered new cycle and this first uprun wave only first upwave of the 3 major ones.Note
Daily MACD about to cross up. Trade active
Golem next wave kicking in?Note
Golem is looking bad, mainly due to bitcoin going down, whole marketcap has been bleeding.Note
If bitcoin breaks below 6100 I would exit all alts for longterm.
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