Market Analysis

GNT Analysis Sunday 14th April

Golem Network Token (GNT) looks like it may have found its bottom at around $0.05 and now is looking to break clear of the $0.10 region. There are two key regions for us to be wary of. An upside break would be confirmed by a clean break of the $0.096-0.102 region. This was a key zone towards the end of November 2018, with multiple wick rejections displayed, signalling a level where sell orders may have been placed. Should we see this broken, we can look to a top-end target of $0.124. Conversely, should the price fall against the current up-trend, we can see support at $0.074-0.077, the second key region to take note of.

Whilst we saw a small correction towards the end of this week, the major ascending trend-line held as support. It is also likely that the weekly candle will close above both trendlines, signalling price to continue in the same manner this week.

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