$GLM GLM/USDT Perpetual (1m) Analysis

Key Metrics:

• Current Price: $0.55485 (+20.77%).

• 24H High/Low: $0.559 / $0.45096.

• Break-Even Price: $0.54239.

• Moving Averages:

• MA(5): $0.55062.

• MA(10): $0.54608.

• MA(50): $0.50620.

Technical Indicators:

1. Price Action:

• Strong upward momentum with price trending above all major moving averages (MA(5), MA(10), MA(50)).

• The break of $0.5400 acted as a catalyst for higher moves.

2. MACD:

• Positive divergence indicates strong bullish momentum.

• Histogram bars show consistent buying strength, but potential signs of consolidation.

3. RSI:

• RSI(6): 70.18 (overbought territory).

• RSI levels above 70 indicate potential short-term pullbacks but confirm bullish dominance.

4. OBV (On-Balance Volume):

• OBV at 39.11M indicates strong buying interest and participation.

Support & Resistance:

• Immediate Resistance: $0.559 (24H High).

• Immediate Support: $0.540 (recent breakout level).

• Major Support: $0.506 (MA(50)).

Outlook & Strategy:

Bullish Continuation:

• Price sustaining above $0.540 signals further bullish momentum.

• Targets:

• Immediate: $0.560 (24H high).

• Extended: $0.580 → $0.600.

Risk of Pullback:

• Overbought RSI may cause consolidation or pullback.

• Key levels to monitor: $0.540 (support) and $0.506 (MA(50)).

Trading Plan:

• Entry: On retracement near $0.540 or breakout above $0.559.

• Stop Loss: Below $0.520.

• Targets: $0.580 → $0.600 for long positions.

Key Takeaway:

GLM is showing strong bullish momentum. While short-term pullbacks may occur due to overbought conditions, the overall trend remains upward unless price breaks below $0.540. Use tight risk management to capitalize on the uptrend.