Jacob Bury
Golem crypto has pumped almost 100% in the last two days and has displayed no weaknesses against the formidable bear market. Historically, Golem crypto is quite notorious for huge euphoric pumps which are followed by harsh retracements.
Currently, Golem crypto is now trading at $0.31 and was rejected at a resistance earlier on today at $0.43. A key level of resistance Golem crypto must now retest in order to initiate continuation to the upside is now $0.395.
Will Golem continue to pump and is Tamadoge a better alternative? Golem is available on Binance.
Cryptoassets are a highly volatile unregulated investment product.
Golem Crypto Price Prediction 2022
From a technical analysis perspective Golem crypto is looking extremely bullish as the price rockets from the low of $0.219 set on the 7th September 2022. Golem crypto was oversold on the 7th of September, the relative index reflected an RSI as low as 24 on the 6-hour time frame.
Following the recent pump today for Golem crypto the relative index also soared up to 87 on the 6-hour time frame which reflects that it is now overbought and we could potentially see the inception of a correction or short term downtrend.
Previous data suggests that when Golem crypto is overbought on the 6-hour relative strength index we usually see a bearish reversal. Could it be the same case this time round?
Glm/Usd – 6 Hour Time Frame.
The price chart above for Golem crypto reflects that on the 2nd of June and 11th of August 2022 we were over extended on the 20-day moving average and massively overbought on the relative strength index.
Each corrective wave ended up being over 40% from the top. Currently Golem crypto has corrected 27% from the top which could imply there is more downside potential.
A key level of support Golem crypto must hold in order to prevent negative price momentum is $0.306. If we lose this critical level of support we could potentially print another swing low down to $0.286.
It is worth noting that Bitcoin is imposing a threat that it may crash down to $17,500 once again, if this does we could see pessimistic effects on major altcoins including Golem crypto. This could result in Golem dropping down to a potential undervaluation reaccumulation range at around $0.22.
Glm/Usdt – 15 Minute Time Frame
Astonishingly, Golem crypto has retraced and bounced perfectly off of its 0.618 Fibonacci retracement trendline. This is known as the golden pocket zone where you are most likely to see a bounce following a correction.
It is also worth noting that Golem has simultaneously bounced off of the 20-day moving average here which could be a bullish sign that there might be continuation to the upside.
Golem crypto tends to surprise the cryptocurrency market from time to time. It is hard to say where it may pump next due to its volatility. If Golem crypto can break back through the $0.43 resistance level with a healthy amount of volume there might be a chance of retesting the next technical resistance target of $0.59.
Golem Crypto Video Analysis
According to Coinmarketcap Golem crypto is now ranked #108 amongst other cryptocurrencies and has a market capital of $315 million. The previous market capital all time high for Golem crypto was $907. I speculate that this could be surpassed in the next crypto bull market in 2024-2025.
What is Golem Network?
Golem Network is a unique decentralized computation network and behaves as a vehicle to redistribute redundant computing power to people who are in need of it. The network creates a peer-to-peer entity where users join on an equal basis where they can buy and sell computation.
GLM is the utility token acting as the gateway into the Golem Network. Golem (GLM) is also the currency which is used for peer-to-peer transactions for renting idle digital assets or resources which provide the spare computing power.
Tamadoge Raises $13,000,000
Whilst Golem crypto certainly has its many reasons to shine in the crypto spotlight once again, Tamadoge is also doing incredible things during this crypto bear market. Some traders speculate that Tamadoge may also emulate similar parabolic pumps to Golem crypto once it goes to public sale.
The Tamadoge community is celebrating today as the $13,000,000 milestone has been breached during a crypto bull market. The Tamadoge presale is now beyond 70% complete and is rapidly selling out due to mass hype and investor appetite.
Tamadoge is a new utility based meme coin with play-to-earn capabilities and boasts a low maximum supply of just 2 billion coins. Another great benefit of Tamadoge is that it is completely transaction tax free.
Delving into the metaverse Tamadoge will also offer augmented reality integrations in the future where you can interact with your very own Doge NFTs that you can raise as pets.
Furthermore, in the later half of 2023 Tamadoge will release immersive and captivating arcade games where players can battle each other and climb the Tamadoge leaderboards.
Meme coins have been performing very well recently despite the upheaval in the crypto markets. Tamadoge is displaying a contrarian like mindset by reaching the crypto markets during the bear phase.
It is extremely impressive to see Tamadoge raise $13,000,000 in the depths of crypto winter. Parties who are interested in participating in the Tamadoge presale can head over to buy.tamadoge.io and enter the presale by converting Ethereum, USDT or Fiat Currencies into TAMA.
To discover more about the enticing Tamadoge ecosystem, whitepapers and roadmap click here.
Related
- How to Buy Tamadoge – Beginner’s Guide
- Best Meme Coins to Buy Right Now
- Bitcoin Price May Retest June Lows at $17,000
Tamadoge - The Play to Earn Dogecoin
- '10x - 50x Potential' - CNBC Report
- Deflationary, Low Supply - 2 Billion
- Listed on OKX, Bitmart, LBank, MEXC, Uniswap
- Move to Earn, Metaverse Integration on Roadmap
- NFT Doge Pets - Potential for Mass Adoption
This article was written for Business 2 Community by Jacob Bury.
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