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#GLM: IDEAL DE-LOAD AND TEST OF KEY EMA!
โWhile retail succumbs to panic and dumps coins on yet another micro pullback,
#GLM is doing what weโve been waiting for so long โ a technical de-load of indicators before a strong breakout! ๐
โ๐ What the 4-hour chart shows right now:
โRSI in the extreme oversold zone (32.4): Sellers are fully exhausted! On 4H, the indicator has dropped to the very bottom โ the market is physically ready for a powerful technical rebound.
โPassenger drop-off: An impulsive sell-off has shaken out leveraged traders and the panickers who entered at the very top of the impulse.
โTesting the main defense: Price has moved toward the most important bullish stronghold โ 4H EMA(200) in the $0.101โ$0.104 area. A mirrored retest of the broken level is unfolding exactly by the book!
โ๐ก Summary:
โThe global uptrend from the $0.0852 bottom is absolutely not broken. The market is simply catching its breath and resetting the indicators to gather liquidity for the next push toward the 1D EMA(200) (~$0.128).
โThose who succumbed to fear and sold at the very bottom of the RSI โ unfortunately. Those who understand market mechanics are calmly watching the support of levels.
โAre you waiting for the bullsโ reaction from $0.102, or accumulating at the current price?
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#GLM #DePIN #Crypto #BinanceSquare #Altcoins #TechnicalAnalysis$