Market Analysis

GNT Technical Analysis – Support Remains to Hold Strong

It seems very much “a tale of two zones” for GNT currently. Most of the recent price action has been between the lower zone at $0.074-0.077 and upper at $0.098-0.102. From our previous analysis of the Golem Network price did indeed manage to break out of this zone but failed to make significant headway through the upper zone and subsequent ascending trendline, currently acting as resistance.

GNT has generally been performing well compared to the general altcoin scene. There have been multiple attempts to break the trendline, and this is where the current focus should be on. Should we see a clear break of this, the $0.12 daily top-end level is our upside target. Conversely, should we see a fall in price the lower zone should again hold as support.

The Golem team have always been transparent with the struggles they have come across, and with steady progress within their roadmap, it may be a project that requires a little more patience from investors before it’s true potential and value are reflected in its price.

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