🎯 $GLM

/USDT Technical Analysis: Is a Reversal on the Horizon?

GLM/USDT has taken a sharp dip, currently trading at $0.4736, reflecting a 24.53% drop over the last 24 hours. Despite this bearish momentum, the high trading volume suggests strong market activity, hinting at potential recovery zones.

Key Levels to Watch

1. Immediate Resistance - $0.5200

A short-term breakout above this level could signal bullish momentum, targeting higher levels.

2. Mid-Term Target - $0.6000

If the price holds steady and breaks above the $0.5200 zone, $0.6000 is a realistic mid-term target.

3. Major Resistance - $0.6600

This level aligns with the 24h high. Breaking this point would confirm a bullish reversal and attract more buyers.

Technical Indicators

RSI: Oversold region, indicating a potential reversal.

Support Zone: $0.4700 - $0.4500. Holding above this range is critical.

Moving Averages: Bearish crossover on the 4H chart, but recovery signs are visible on the 1H timeframe.

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