GLM Technical Analysis Feb 4

GLM’s momentum is under weak bearish pressure; while RSI is stuck in the neutral zone at the 41.70 level, MACD gives sell signals with a negative histogram, and the price staying below EMA20 confirms the short-term downtrend.

Trend Status and Momentum Analysis

GLM is currently trading at the 0.22 dollar level and remained limited in the daily range of 0.20-0.24 dollars with a slight -0.46% drop over the last 24 hours. The overall trend direction shows a clear downward inclination; the price trading below EMA20’s 0.23 dollar level confirms short-term bearish momentum. The Supertrend indicator also gives a bearish signal, and the 0.27 dollar resistance level stands out as a strong barrier. Weakness dominates across momentum oscillators; although RSI is in the neutral zone, MACD’s negative histogram indicates that selling pressure may continue. Volume was at a medium level of 11.69 million dollars, but this volume does not strongly confirm the downside – on the contrary, accumulation/distribution patterns show a slight dominance of selling tendency. Multi-timeframe (MTF) alignment is noteworthy: a total of 17 strong levels were detected in the 1D, 3D, and 1W charts (1D: 3 supports/2 resistances, 3D: 2 supports/3 resistances, 1W: 4 supports/3 resistances). This confluence makes points like 0.2122 (score 77/100) and 0.1979 (64/100) at support levels especially critical. In trend strength measurement, EMA ribbon dynamics also support the downside; short-term EMAs are aligned downward, and momentum loss is evident.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI (14) is currently positioned at the 41.70 level, reflecting a squeeze under light selling pressure in the neutral zone. It is far from overbought (above 70) or oversold (below 30) regions, but in recent periods, during price’s low tests near 0.20 dollars, RSI does not show a clear regular or hidden bullish divergence. There is no expected bullish divergence where the price makes lower lows while RSI forms relatively higher lows; on the contrary, RSI dipping into the 40s confirms weak momentum. This situation indicates that the short-term sell trend can continue healthily. However, if RSI slides toward the 30 level, it should be monitored carefully for a possible hidden bullish divergence formation – there is no such signal at present, and bearish momentum is dominant.

Overbought/Oversold Regions

RSI at 41.70 is not approaching the oversold boundary, but staying below the 50 level shows that downside momentum is preserved. On the daily chart, breaking RSI above 50 would require volume-backed buying, but the current 11.69M volume does not provide this strength. Weekly RSI is also under similar neutral pressure; unless the oversold region (below 30) is triggered, momentum recovery may remain limited. In overall confluence, RSI gives a sell signal in alignment with MACD.

MACD Signals and Histogram Dynamics

The MACD indicator displays a clear bearish signal: the signal line is below the MACD line, and the histogram is expanding in the negative zone. This confirms that momentum is gaining speed in the selling direction – as the negative depth of histogram bars increases, the attempt to test the zero line from below failed. In the recent crossover, MACD breaking below the signal line triggered a short-term trend change, and the current bearish structure supports the price sliding toward the 0.2122 support. The histogram not showing a contraction tendency emphasizes that bearish momentum is not entering contraction and selling pressure may continue. This dynamic is similar in daily and 4-hour charts; in weekly MACD, the risk of negative divergence is low, and the trend is in healthy bearish character.

EMA Systems and Trend Strength

Short-Term EMAs

Short-term EMA20 (0.23 dollars) forms resistance above the price, and GLM staying below it clarifies momentum loss. There is a squeeze in the EMA ribbon between EMA10 and EMA50, but downward slope dominates – this indicates weak trend strength and points to a possible bearish ribbon expansion. For the price to break EMA20 upward, the 0.2256 resistance (score 62/100) must be overcome, but current momentum does not allow it.

Medium/Long-Term EMA Supports

Medium-term EMA50 and EMA100 are clustered around the 0.2482 resistance, but the price staying below questions long-term trend strength. EMA200 could act as support further down (around 0.30s), but in MTF confluence, 1W EMAs are aligned bearish. Ribbon dynamics show medium-level bearish trend strength; without volume increase, a bullish reversal is difficult.

Bitcoin Correlation

Bitcoin is in a bearish trend with a -3.10% drop at the 76,250 dollar level; its Supertrend is bearish, and main supports are at 75,754 / 72,988 levels. Altcoins like GLM are highly correlated with BTC (generally 0.7+), so BTC’s failure to break 77,919 resistance creates additional selling pressure in alts. In case of BTC dominance increase, GLM’s bearish target could approach 0.0990 (score 0); if BTC slides below 75K, GLM supports at 0.2122 / 0.1979 could be tested. Conversely, if BTC rises to 81K, a bullish target of 0.3024 (score 30) could come into play for GLM, but the current BTC context requires caution. Check detailed data in GLM Spot Analysis and GLM Futures Analysis.

Momentum Outcome and Expectations

In the confluence of momentum oscillators, GLM is bearish dominant: RSI neutral sell, MACD histogram expanding, EMA ribbon downward sloping, and volume weakly confirming the downside. Critical supports at 0.2122 (high score) and 0.1979 should be monitored; on a break, risk increases to 0.1612 and bearish target 0.0990. Overcoming resistances at 0.2256 / 0.2482 with RSI above 50 and MACD zero crossover could bring momentum recovery, bullish target 0.3024. Unless volume increase and BTC recovery create confluence, short-to-medium-term bearish momentum remains dominant. No significant news flow, technicals are in the foreground.