Moonbeam Price Analysis: GLMR looks positive for near future?


  • GLMR price flashes signs of bullishness on 7-days price chart.
  • The EMA(50) is currently at $0.49.
  • GLMR’s intraday volume stands at $12,116,187.00.
  • Moonbeam has a medium term resistance at $0.61.

25 April 2024 : In this article we will walk you through Moonbeam price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Moonbeam, Is GLMR a good investment? Moonbeam support & resistance levels etc. But before diving deep into the GLMR 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 $2,381,021,498,961. The total trading volume stands at $84,675,223,960. Bitcoin shares 53.31 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $64,478.04 level after a decline of -3.48%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -2.16 percent reaching to $3,165.12 during the previous 24 hours.
While publishing this blog, BNB traded at $607.21, following a price change of 0.3% within the same time frame. SOL the native coin of Solana is down by -6.09 and currently trading at $148.56. 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.

Moonbeam 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 Moonbeam (GLMR)

GLMR Resistance Levels GLMR Support Levels
Resistance Level 1 $0.53 Support Level 1 $0.40
Resistance Level 2 $0.61 Support Level 2 $0.34
Resistance Level 3 $0.67 Support Level 3 $0.27

Moonbeam Performance

The daily chart of Moonbeam shows that the GLMR price has surged up with a 1.62% increase in past 24 hours. The price value of the Moonbeam (GLMR) coin is standing at $0.48 with market capitalization $203,312,929.00 USD. GLMR price changes 6% over the week while the trading volume is hovering around $12,116,187.00 USD.

Moonbeam Price Analysis

GLMR price analysis for 25 April 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 Moonbeam.

Moving Averages Price Indicator
Simple Moving Average (10) 0.46 Buy
Exponential Moving Average (10) 0.47 Buy
Simple Moving Average (20) 0.46 Buy
Exponential Moving Average (20) 0.47 Buy
Simple Moving Average (50) 0.49 Sell
Exponential Moving Average (50) 0.49 Sell

The MACD line is standing above of the signal line after a positive crossover. Moonbeam investors need to wait for any directional change over the daily chart. While GLMR’s Williams %R indicator is at -51.203 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The relative Strength Index (RSI) indicates that the GLMR coin is in heading towards overbought zone, as RSI is at 54. GLMR has a nearest resistance of $0.53. A bullish breakout in this resistance level would boost the uptrend momentum. The buyers could then target the resistance R2 placed at $0.61. Alternatively, if the investors turn against the Moonbeam (GLMR), the bears might control the market and take GLMR price below the crucial support level of $0.40.

Conclusions

As of now, Moonbeam is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the GLMR move into the positive zone. As far as we can tell, Moonbeam is on its way up. In 2022 and beyond, the Moonbeam price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.