- Moonbeam trades on a bullish momentum to drive the price to 0.3926 in the past day.
- GLMR market faces a battle on who controls the market.
- Bearish sentiment is being signaled on the 4-hour price chart.
With a price as high as $0.3926, the MoonBeam Coin token indicates that the crypto is currently experiencing a strong positive signal. Although bears had previously been in charge of the market, bulls have managed to turn the tables and drive the price up. The GLMR/USD pair is currently consolidating between $0.3826 and $0.3930, and bulls are attempting to push it higher into the next big resistance at $0.4261 by breaking through this level of resistance.
The Williams alligator asserts that the three lines are showing signs of favorable trend by flowing upstream with open lips. This bull run will undoubtedly continue if prices keep rising above the alligator’s jaws.
The market capitalization has increased by 1.17% to $215,804,453 to represent this development, but the 24-hour trading volume has decreased by 31.90% to $5,785,408 to signify rising market volatility.
The positive momentum is anticipated to continue as the upper band and lower band both hit 0.3947 since the Bollinger Bands are enlarging and pointing upward. This increasing tendency is supported by the price movement towards the upper band.
The price’s continued trading above its moving average (MA) value, which is at the 0.391 level, offers more proof that the market has the potential for growth in the short term. The relative strength index (RSI) indicator’s present level of 60.36, which suggests the market is approaching overbought territory, indicates that there has been an increase in purchase pressure. The moving average convergence and divergence (MACD) indicator, which is positive and remains above the signal line, suggests that the market may continue to increase in the near future.
Additionally, the GLMR market may have further high momentum in the near future, according to Technical Ratings’ “strong buy” recommendation. Given the results of the motion, investors might want to consider purchasing GLMR right away in order to benefit from its bright future.
In the 4-hour price chart, a slight bearish signal is evident as the signal line has crossed over the MACD line which shows that a bearish reversal is imminent. The bulls and bears have been battling over who can control the market.
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