$GLM /USDT REACHES NEW LOW: WHAT’S NEXT?🚀📊
The GLM/USDT pair is currently trading at $0.3806, down by 0.76% in the last 15 minutes. The 24-hour high was $0.4230, and the low was $0.3566, indicating a recent downward trend. The trading volume for GLM is 37.61M, and for USDT, it is 14.81M.
Chart Analysis:
The 15-minute candlestick chart shows a decline in price with intermittent green candles, suggesting brief buying interest but overall selling pressure. This pattern indicates a bearish sentiment in the market, with lower highs and lower lows.
Trade Scenarios:
1. **Bullish Scenario**: If the price stabilizes above $0.3750, there could be a potential rebound towards the $0.4000 resistance level. Traders can set a Take Profit (TP) at $0.4000 and a Stop Loss (SL) at $0.3700.
2. **Bearish Scenario**: If the price breaks below $0.3750, further decline towards the $0.3500 support level is possible. Traders can set a TP at $0.3500 and an SL at $0.3850.
Market Outlook:
The current market conditions are showing volatility, with a strong bearish trend dominating the scene. Traders should be cautious and closely watch the support and resistance levels. A recovery is possible if the market sentiment shifts, but further declines may occur if the selling pressure persists.
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