- The GLMR token price has seen a massive jump in volume.
- GLMR coin’s price has surged by over 60% intraday.
- It has declined by over 50% in a year.
Market capital of the GLMR coin – $162.94 Million
The current market price of the GLMR coin – $0.2188
The GLMR Token Overview
The GLMR cryptocurrency price in the current trading session has jumped by over $0.0511 or 30% with a massive volume of 160.832 Million. The 10-day average volume of this token is just 20.089 Million. The GLMR coin has formed a big green candle on the chart. However, the coin is not able to hold its gain. The price has slipped down from the $0.2680 level and trading at $0.2188, which is 50% of today’s gain.
The GLMR coin’s price has surged 36.73 % in a week and 15.75% in a month which shows that the buyers are gaining momentum. If we ignore today’s gain, the price is in a strong downtrend. The above statement can be confirmed by the fact that the coin has declined by over 50% in a year. We can clearly observe it on the chart as the coin has been declining on a steep downside.
Technical Analysis of GLMR coin
The coin has formed a falling wedge pattern on the daily chart and from the bottom level the price has shown a massive jump today. The price has faced a strong rejection from the resistance line of the falling wedge pattern. This signifies that the sellers are present at the upper level and are very aggressively shorting the price.
The surge in the coin price today with a massive volume is a sign that there is some serious buying happening in this token. The other major crypto coins are trading flat which shows that the rally in this token is unique and happened not because of the market sentiment. The previous month’s candle has been engulfed by this month’s candle because of today’s move which is a bullish sign.
Price Trades Below the Exponential Moving Averages
The GLMR coin price has attempted to cross both the 50-day and 100-day Exponential Moving Averages. It has crossed both the EMAs but faced a strong rejection from the upside and came back below the EMA. Both EMAs are present at the level of $0.1912 and $0.2180 respectively. The RSI is currently at the overbought region as it is present at 72.96 level.
Conclusion
The coin price has shown a strong jump from the lower levels with a massive spike in volume, indicating that some long position has been made at a lower level. Although the price has also seen a profit booking at upper levels. So, the GLMR coin price can carry this momentum in the upcoming trading session.
Technical levels
Resistance – $0.2445 and $0.3100
Support – $0.1546 and $0.1555
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.