🚀 GLM/USDT Technical Analysis: Bullish Momentum Continues! 🚀
📊 Current Price: $0.5133
24h Price Change: +31.21%
The GLM/USDT pair has been showing strong bullish momentum in the past 24 hours, and traders are watching closely as the price breaks higher. After a solid breakout, GLM has reached $0.5133, but where could it go next? Let's dive into the technical analysis and identify three key price targets for the upcoming sessions. 👇
1st Target: $0.5220 (Resistance Zone) 🎯
Rationale: The immediate resistance level is at $0.5220, which aligns with the recent 24-hour high. This level has proven to be a key barrier, and a break above it could signal further upside potential. If GLM continues to maintain momentum, expect this resistance to turn into support, opening up the door for higher levels.
Entry Strategy: Traders may consider entering long positions near $0.5133 with a target towards $0.5220. Tight stop-loss orders should be placed below $0.5000 to manage risk.
2nd Target: $0.5299 (Psychological Resistance) 🎯
Rationale: After breaking $0.5220, the next psychological resistance lies at $0.5299. This price level is significant due to its proximity to the round number of $0.53, often attracting profit-taking and consolidation. A clean breakout above this level could accelerate the bullish rally.
Entry Strategy: For aggressive traders, this target may present an opportunity to scale into a position as momentum picks up.
3rd Target: $0.5570 (Extended Target) 🎯
Rationale: A further extension beyond $0.5299 could take GLM to the next major resistance at $0.5570, a level based on previous price action and market structure. This would be the next region to watch for potential reversal or pullback, marking the full extension of the current bullish wave.
Entry Strategy: Traders should look for signs of exhaustion or a reversal pattern near this level, considering a potential exit or partial take-profit strategy.
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