Moonbeam (GLMR) Price Prediction 2023-2030: Will GLMR Price Hit $1 Soon?

• Bullish GLMR price prediction ranges from $0.42 to $0.6.
• Analysis suggests that the GLMR price might reach $0.55.
• The GLMR bearish market price prediction for 2023 is $0.16.

Moonbeam is a Polkadot network smart contract parachain that uses the delegated proof of stake (DPoS) consensus process and features an Ethereum-compatible environment. Moonbeam is a parachain, which implies it is a Layer 1 chain connected to Polkadot’s Layer 0 Relay Chain.

If you are interested in the future of Moonbeam (GLMR) and would want to know the price analysis and price prediction of GLMR for 2023, 2024, 2025, 2026, up to 2030, keep reading this Coin Edition article.

Moonbeam (GLMR) Market Overview

What is Moonbeam (GLMR)?

Moonbeam is Polkadot’s Ethereum-compatible smart contract parachain. Moonbeam makes it simple to construct or redeploy Solidity apps in a Substrate-based environment using common Ethereum development tools.

Moonbeam is a highly customized parachain that matches Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform adds on-chain governance, staking, and cross-chain integrations to the standard Ethereum feature set. Through bridges, Moonbeam integrates and connects Polkadot parachains as well as other chains like as Ethereum and Bitcoin. Derek Yoo of Pure Stake founded Moonbeam in 2019.

On top of Substrate, Moonbeam provides an Ethereum-like environment (rather than a Geth-based solution). This allows developers to quickly reinstall their current smart contracts, utilizing the same tools and integrations as before, but also benefiting from the new Substrate architecture on which all Polkadot parachains are built.

Developers utilizing Solidity or Vyper-based smart contracts may “go multi-chain” and expand their impact into the Polkadot ecosystem thanks to the Moonbeam network. Polkadot’s blockchain provides seamless task sharing on a new layer.

Developers may use Moonbeam to transfer current Ethereum DApps to Polkadot or construct new permissionless decentralized apps (dApps) using familiar Ethereum development tools. When front-end dApps are migrated between chains, Moonbeam’s tools ensure that there is minimum modification. By utilizing Moonbeam, Ethereum developers (the largest market of existing blockchain developers) would be able to avoid the scalability difficulties caused by the Ethereum network’s expense and restrictions.

The Moonbeam project is moving toward decentralized governance. Glimmer (GLMR), the utility token, will act as a gateway for network participants to access the network’s critical functionalities.

Holders of GLMR will be able to submit referendums, vote on them, and elect council members. A representation of Polkadot’s chosen proof-of-stake consensus technique. The added scalability and security provided by a Polkadot sharded design and shared security umbrella help Moonbeam.

Moonbeam (GLMR) Current Market Status

Moonbeam has a circulating supply of 749,735,541 GLMR, while its maximum supply is infinite according to CoinMarketCap. At the time of writing, GLMR is trading at  $0.2245 representing 24 hours decrease of 9.27%. The trading volume of GLMR in the past 24 hours is $153,017,144 which represents a 631.5% increase.

Some top cryptocurrency exchanges for trading GLMR are  Binance, KuCoin, Kraken and OKX.

Now that you know GLMR and its current market status, we shall discuss the price analysis of  GLMR for 2023.

Moonbeam (GLMR) Price Analysis 2023

Currently, Moonbeam (GLMR) ranks 143 on CoinMarketCap. Will GLMR’s most recent improvements, additions, and modifications help its price go up? First, let’s focus on the charts in this article’s GLMR price forecast.

Moonbeam (GLMR) Price Analysis – Bollinger Bands 

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. When the bands widen, it shows there’s going to be more volatility and when they contract, there is less volatility.

The above chart shows that GLMR has been losing value since February 2023. Most of Moonbeam’s activity was inside the lower half of the Bollinger band while every now and then it rose above the SMA and touched the upper band before retracing again. After continuously touching the lower GLMR seems to have gained some momentum from the bulls. At press time GLMR seems to have gone above the upper band and it is extremely overbought. As such, there is every chance that GLMR could crash and travel towards the lower band. 

The Bollinger band super trend indicators’ red-drenched areas show that GLMR is on a downtrend. The green patches show Moonbeam’s effort to recover, but it was negated by the bears’ selling pressure. Currently, the Bollinger bandwidth percentile (BBWP) indicator reads a value of 1.98%. Despite the bands expanding the BBWP value is low, which may mean that there is more volatility in the market to come.  If the above-stated thesis is true then GLMR could increase in value. 

Moonbeam (GLMR) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA, it is considered bullish; if it’s below the SMA, it is bearish.

When looking at the RSI, we can see that it recorded every move of GLMR bullish moves with the RSI above the line and the bearish with the RSI below the Signal. Currently, the RSI reads a value of 75 and it is in the overbought region. It is currently heading downwards into the normal range. Moreover, the Stochastic RSI also says that GLMR is overbought. However, if the bulls keep the pressure on, the RSI could still keep moving up. 

In the event that GLMR moves up and the RSI moves down.  This could be considered a divergence. For instance, if GLMR makes a higher high while the RSI makes a lower high, then it is a bearish divergence, which predicts that a price fall is imminent for GLMR.

Moonbeam (GLMR) Price Analysis – Moving Averages

The Exponential Moving averages are quite similar to the simple moving averages (SMA). However, the SMA equally distributes down all values whereas the Exponential Moving Average gives more weightage to the current prices. Since SMA undermines the weightage of the present price, the EMA is used in price movements. 

The 100-day EMA is considered to be the long-term moving average while the 50-day EMA is considered the short-term moving average in trading. Based on how these two lines behave, the strength of the cryptocurrency or the trend can be determined on average. 

In particular, when the short-term exponential moving average (50-day EMA) approaches the long-term exponential moving average (100-day MA) from below and crosses it, we call it a Golden Cross.

Contrastingly, when the short-term moving average crosses the long-term moving average from above then, a death cross occurs. 

Usually, when a Golden Cross occurs, the prices of the cryptocurrency will shoot up drastically, but when there’s a Death Cross, the prices will crash.

The above chart shows that GLMR is trading just below both moving averages. Although GLMR tested the 50-day EMA on numerous occasions, it wasn’t able to break above it. However, currently, after much effort, GLMR seems to have broken the 50-day EMA and is heading towards the 200-day EMA. if the bulls keep on entering the market, then, there is a high chance that GLMR may test the 200-day EMA or break above it.

Moonbeam (GLMR) Price Prediction 2023-2030 Overview

Moonbeam (GLMR) Price Prediction 2023

When looking at the chart above, we can see that GLMR was trading inside a falling wedge since mid-February 2023. We could see that the wedge was thinning very quickly. This means that GLMR was consolidating diagonally. At press time, Moonbeam reads a value of $0.23 after it broke out of the falling wedge with a large green candlestick. But the question is, will it have the volume or will the buyers support GLMR to stay in this region for long? 

In the event that Moonbeam is backed by buyers, then, it has the potential to reach the Point of Control at $0.2375. With more buyers joining the bandwagon, GLMR has the ability to reach $0.4233. When the buyers fully take over the market GLMR could rise above $0.55. However, in the event that the buyers fail to support this sudden rise of GLMR, then it could be looking to land on support at $0.1600.

Moonbeam (GLMR) Price Prediction – Resistance and Support Levels

The above chart shows the resistance and support levels for Moonbeam. Since it started falling in February GLMR has been moving diagonally downwards. In the beginning, it started crashing below the 1:1 Gann fan line. However, on its way down GLMR found some momentum which helped it rise along the 1:1 Gann line during mid-April 2023. However, after breaching the 1:1 Gann line, once again GLMR started to crash diagonally below the 2:1 Gann line this time around.  

Currently, Moonbeam seems to have found some momentum as it is testing the 8:1 Gann line. However, there is also some bearish pressure building, hence it might be hard for GLMR to break the 8:1 Gann line.  

Moonbeam (GLMR) Price Prediction 2024

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. Hence, we could expect GLMR to trade at a price not below $1.4 by the end of 2024.

Moonbeam (GLMR) Price Prediction 2025

GLMR may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, GLMR will continue to rise in 2025 forming new resistance levels. It is expected that GLMR will trade beyond the $6.06 level.

Moonbeam (GLMR) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, GLMR could tumble into its support regions. During this period of price correction, GLMR could lose momentum and be way below its 2025 price. As such it could be trading at $2.43 by 2026. 

Moonbeam (GLMR) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, that excitement has not been reciprocated in GLMR. As such, we could expect GLMR to trade just above its 2026 value at around $4.46 by the end of 2027.

Moonbeam (GLMR) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, GLMR may reciprocate its past behavior during the BTC halving. Hence, GLMR would be trading at $8 after experiencing a considerable surge by the end of 2028. 

Moonbeam (GLMR) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, GLMR could be trading at $25 by the end of 2029.

Moonbeam (GLMR) Price Prediction 2030

After witnessing a bullish run in the market, GLMR and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, GLMR could be trading at $16.

Moonbeam (GLMR) Price Prediction 2040

The long-term forecast for GLMR indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. 

If they start selling then GLMR could fall in value. It is expected that the average price of GLMR could reach $45.6 by 2040.

Moonbeam (GLMR) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, GLMR could hit $75.

Conclusion

If investors continue showing their interest in GLMR and add these tokens to their portfolio, it could continue to rise. GLMR’s bullish price prediction shows that it could reach the $0.55 level. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.