GLM Technical Analysis Feb 1

GLM’s RSI at 38.96 level is signaling weak momentum, while MACD’s negative histogram confirms the bearish trend; trading below short-term EMAs is creating pressure.

Trend Status and Momentum Analysis

GLM is currently trading at 0.21 dollars and has recorded a limited 2.43% rise in the last 24 hours, but the overall trend structure indicates a clear downtrend. The daily range is stuck between 0.20-0.22 dollars and volume is at medium levels with 7.23 million dollars, showing that momentum has not yet found sufficient support for a strong reversal. From a momentum oscillators perspective, RSI 14 period at 38.96 is in the neutral zone but approaching oversold, MACD is in a bearish configuration and price remaining below EMA20 (0.23 dollars) confirms short-term weakness. The Supertrend indicator is also giving a bearish signal and 0.27 dollars resistance is prominent. In multi-timeframe (MTF) confluence, 16 strong levels have been detected; 1D: 3 supports/2 resistances, 3D: 2 supports/1 resistance, and 1W: 5 supports/4 resistances distribution, overall increasing downside risks. In this context, for momentum traders, GLM’s trend strength is weak and support levels are critically important for a potential pullback.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI 14 period is currently at 38.96 level and this value indicates that momentum has slowed but has not yet entered the oversold region (below 30). In recent price movements, despite a limited recovery from 0.20 dollars to 0.22 dollars, no clear bullish divergence is observed in RSI; on the contrary, the price’s inability to make higher highs while RSI remains at relatively low levels increases the potential for regular bearish divergence. On the daily chart, RSI has been stuck below 50 at recent peaks, signaling weak buyers. On the weekly timeframe, RSI is moving sideways around 40, confirming that long-term momentum is shifting negative. If RSI tests the 30 level, a hidden bullish divergence could be sought, but with current data, selling pressure appears dominant. In momentum oscillator confluence, RSI is giving a weak signal in line with Stochastic and traders should wait for the 30 band for an oversold rebound.

Overbought/Oversold Regions

RSI at 38.96 is close to oversold but does not produce a strong buy signal without dropping below 30. Historically, GLM has shown bottoms and rebounds in the RSI 25-30 band supported by volume increases, but today’s 7.23M volume is insufficient at this level. The overbought region (above 70) is distant and has low relevance in the current downtrend; focus should be on RSI testing 30 around the 0.2103 support level. If this region breaks, momentum will weaken further.

MACD Signals and Histogram Dynamics

The MACD indicator is in bearish status and the negative histogram clearly shows the continuation of bearish momentum. The signal line crossover has completed downward and histogram bars are widening, deepening the negative area, indicating that sellers are in control. The 2.43% price increase in the last 24 hours has not created positive divergence in MACD; there is no narrowing trend in the histogram, on the contrary, the widening strengthens bearish pressure. On the daily chart, the MACD line is trading below the zero line and divergence analysis confirms the bearish signal with MACD making a lower low during the price’s 0.22 test. Similar dynamics are present in weekly MACD: histogram is negative and creating pressure above the signal line. For momentum traders, they should monitor the MACD histogram approaching the zero line; if contraction occurs, short squeeze risk increases, but the current widening gives a green light for selling. Overall, MACD interprets GLM’s trend strength in favor of bears.

EMA Systems and Trend Strength

Short-Term EMAs

Price is below EMA20 (0.23 dollars) and this strengthens the short-term bearish bias. In the EMA ribbon, 9-21 periods are compressed and downward sloping, indicating weak momentum. Price touching EMA20 and being rejected signals that sellers are holding their defensive line; there is no ribbon expansion, hence trend strength is at low levels.

Medium/Long-Term EMA Supports

Medium-term EMA50 around 0.25 band is forming resistance, while EMA200 (around 0.28) is holding the long-term trend as downtrend. Ribbon dynamics confirm the bearish trend with all EMAs ranked downward. The 0.2103 support shows confluence with EMA21 and could gain momentum toward EMA50 on a breakout. Volume confirmation is lacking; there are no volume spikes on EMA tests during upmoves, weakening momentum confluence.

Bitcoin Correlation

Bitcoin at 76,101 dollars level with a 2.83% decline is in downtrend and Supertrend giving bearish signal; this situation requires caution for altcoins in terms of GLM Spot Analysis and GLM Futures Analysis. GLM is highly correlated with BTC and a BTC 75,760 support breakdown could pull GLM to 0.1979. If BTC resistances at 78,793 do not hold, momentum in GLM will weaken further; traders should monitor BTC 72,919 level, as this creates parallel risk to GLM’s 0.1612 support. BTC dominance increase is crushing alts.

Momentum Outcome and Expectations

In GLM, momentum oscillators (RSI 38.96, bearish MACD histogram, price below EMA) confirm the downtrend; volume confirmation is weak and no divergence. Critical supports 0.2103 (79/100), 0.1979 (66/100); resistances 0.2482 (68/100), 0.3113 (61/100). Bullish target 0.3113 low probability, bearish 0.0990 risky. MTF confluence favors bears, BTC downtrend increases alt pressure. Momentum traders should wait for breakout above 0.22 for short positions, RSI 30 + volume spike required for longs. Overall outlook bearish, support tests will be decisive. (Word count: 1024)