Cryptocurrency
by Seth Parker on April 25, 2018

Golem Analysis – 0.5 USD under the pressure again

We finish today’s crypto patrol with the Golem previously mentioned by us on the last Tuesday. Although, when we analysed the instrument for the last time, the price was going lower, we were seeing the ray of light in the tunnel:

“Currently, the price is in the correction phase. The situation is still bullish but the fact that we did not manage to close above the 0.5 USD resistance (red) can be a bit worrying. The sentiment is positive but the buy signal is not necessary here. The buy signal will come back to life once the price will finally close the day above the 0.5 USD. I think that another attempt to do that is coming soon. „

Golem chart

The day, when we wrote those words was the reversal point for the Golem! Since that, we had 8 bullish days in a row! We eventually broke the 0.5 USD resistance and went higher, setting new mid-term highs on the 0.66 USD. That is where the altcoin created a double top formation and reversed. That is possibly a negative signal but the thing is that we are still above the 0.5 USD support. As long, as we stay above this support. The sentiment is positive and we should see a continuation of the upswing. Price closing a day below that area will deny the buy signal.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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