During the recent rally Golem token has broken above multiple resistance levels, including 50-Day and 100-Day EMA. GNT price is trading below its 20-day EMA, but given the strong bear market, many are expecting a correction to new lows.
Technical indicator RSI is indicating that token price moves to the oversold territory and is due for a correction. Also GNT has the strong support at 3k level from the POC(point of control).I think, it might not be a good idea to short or open a long position right now. If GNT price manages to breach the resistance from 50-Day EMA then it could continue to go higher.
Technical indicator RSI is indicating that token price moves to the oversold territory and is due for a correction. Also GNT has the strong support at 3k level from the POC(point of control).I think, it might not be a good idea to short or open a long position right now. If GNT price manages to breach the resistance from 50-Day EMA then it could continue to go higher.