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$GLM USDT (Golem) โ 1D Analysis
๐ท Pattern: Ascending Channel โ Lower Band Retest
After bottoming near $0.115 and recovering steadily, GLM has been trading inside a clean ascending channel structure.
Price recently tested the upper channel band around $0.155โ$0.160 before pulling back, and is now retesting the lower support band near $0.138โ$0.145.
This is a classic channel retest setup โ the key question now is whether buyers can defend support and maintain the broader bullish structure.
๐ Key Levels:
๐ข Channel Support Zone: ~$0.138 โ $0.145
๐ด Channel Resistance Zone: ~$0.158 โ $0.165
๐ฏ Breakout Target: $0.185 โ $0.210
โ Invalidation: Daily close below $0.120
๐ RSI (14): 52.04
๐ Signal: 58.52
โ ๏ธ RSI has now produced a sharp bearish cross, dropping notably below the signal line after previously pushing close to overbought territory near 70.
This reflects a meaningful momentum cooldown accompanying the current pullback into channel support.
๐ Lower channel retest + weakening RSI = key decision zone
For bullish momentum to regain strength, RSI likely needs to reclaim the 58+ region while price continues holding the lower channel support.
If support stabilizes successfully, continuation toward the upper channel resistance โ and potentially the breakout target region โ remains possible.
Trade
$GLM Here ๐๐
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