Global Currency Reserve Price Analysis: GCR Up By 37.88%, Time to Buy?


  • Global Currency Reserve gain bullish momentum over the past week gaining 952.56%.
  • In terms of GCR support floor, it is now $0.007.
  • GCR faces medium-term resistance at $0.003.
  • GCR’s intraday volume stands at $2,955,541.00.

01 May 2024 : In this article we will walk you through Global Currency Reserve price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Global Currency Reserve, Is GCR a good investment? Global Currency Reserve support & resistance levels etc. But before diving deep into the GCR technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,140,480,546,328. The total trading volume stands at $96,777,595,554. Bitcoin shares 52.64 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $57,218.12 level after a decline of -4.8%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -2.51 percent reaching to $2,903.94 during the previous 24 hours.
While publishing this blog, BNB traded at $547.77, following a price change of -3.75%within the same time frame. SOL the native coin of Solana is up by 1.37 and currently trading at $125.96. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Global Currency Reserve Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Global Currency Reserve (GCR)

GCR Resistance Levels GCR Support Levels
Resistance Level 1 $0.007 Support Level 1 $0.007
Resistance Level 2 $0.003 Support Level 2 $0.003
Resistance Level 3 $0.007 Support Level 3 $0.007

Global Currency Reserve Performance

GCR has recorded a upsurge, gaining 37.88% in last 24 hours. The current value of Global Currency Reserve is hovering at $3.04 with the trading volume of $2,955,541.00 USD in the same timeframe. The overall marketcap for GCR is $325,476,909.00 USD while the coin price changes 952.56% over the week.

Global Currency Reserve Price Analysis

GCR price analysis for 01 May 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Global Currency Reserve.

Moving Averages Price Indicator
Simple Moving Average (10) 0.007 Buy
Exponential Moving Average (10) 0.018 Buy
Simple Moving Average (20) 0.004 Buy
Exponential Moving Average (20) 0.010 Buy
Simple Moving Average (50) 0.002 Buy
Exponential Moving Average (50) 0.004 Buy

The Relative strength index (RSI) for GCR Coin is currently hovering at 100 for 14-days average line, which means GCR is in overbought zone and a trend reversal is possible. The GCR/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. While GCR’s Williams %R indicator is at 612800 for the 14-day time period indicating a overbought condition and short term trend price correction is possible.

Conclusions

Global Currency Reserve market shows a bullish signs, and bulls can push GCR higher in the coming sessions. GCR has a resistance at $0.007, beyond which the coin would move toward next crucial resistance at $0.003.