BTC$23 413.14


ETH$1 845.31




USD Coin


Binance Coin




Golem (GNT): Anticipating a Dropdown Upon Consolidation

November 2020

In the last article dedicated to Golem (GNT), we have predicted correctly that the price was to retrace to the support at $0.105, but what seemed as the retracement within the framework of the bull flag turned out to be the beginning of correction that took the price to its current level at $0.095, achieved after the average of 3% value degradation against the three major currencies: USD, BTC, and ETH, in a span of a week.

1-week GNT/USDT chart

Nevertheless, when it comes to the price development on the macro scale, Golem seems to be rising slowly but steadily above the two-year bottom at $0.018 that was reached at the climax of the coronavirus-induced market crash in March. The historical chart tells us that GNT has already taken out the highs of 2019 and would be eyeing the psychological level at $0.2 in the long run.

All-time GNT chart

But for the time being, we have a bearish outlook with regard to Golem, at least until the price makes a comeback above $0.1. But that would be hard to achieve, given the noticeable decrease in average trading volume over the past 90 days from $15 million to the current $4.3 million that is a sure sign of the ongoing consolidation before a major break, which we reckon would occur to the downside.

Awaiting a drop to 0.236 on Fibo

The weekly chart reveals that the sellers have successfully flipped $0.105 from being a support to becoming a resistance that has been tested during each of the past three weeks - but to no avail - while maintaining the support at $0.088. 

1-week GNT/USDT chart

This dive was accompanied by the visible shrinkage of trading volume to the levels seen during the short bull rally at the dawn of the year. At the same time, MACD appears to have finalized its bullish phase, which lasted for ten months and now is deliberately going for the bearish crossover, the proper realization of which would provide the clear signal that the price intends to drop to 0.236 on the Fibonacci retracement grid or $0.07.

At that point, Golem would either enter the phase of protracted consolidation - given that MACD will get rejected at the zero line - or fall to the pre-rally price level, with the presumed support line being established at $0.053, whereas MACD will fully immerse itself into the bearish control zone. The bullish scenario provides for a push off the interim support at $0.088, followed by a quick spike to $0.12 that coincides with 0.382 on the Fibonacci retracement grid.

1-day GNT/USDT chart

The price action on the daily time frame confirms that Golem is being locked in a tight range ($0.088 - $0.105) with an inclination to the downside, mainly due to MACD being in the bearish zone, though the situation will become clearer once the symmetrical triangle is being resolved.

The guidelines concerning trading Golem on this time frame are pretty straightforward: wait for the breach of either support or resistance as part of the symmetrical triangle resolution and look for the confirmation from MACD, as well as the increase in trading volume.

Author: Alex Paulson for


Golem (GNT) Explodes After a Slow Recovery
Golem (GNT) Explodes After a Slow Recovery
Golem (GNT) Faces a Series of Obstacles
Golem (GNT) Faces a Series of Obstacles
Golem (GNT) Struggling With Resistance
Golem (GNT) Struggling With Resistance

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 88.8% 13 $23 413.14 -1.75% -4.18% $447 764 695 466 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 72.4% 57 $1 845.31 -2.60% -1.73% $225 145 169 054 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000076 0% -0.03% $67 571 079 284 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000023 0.03% 0% $53 165 653 780 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 66% 64 $307.60 -2.68% -6.84% $49 626 608 205 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 89.2% 10 $0.375266 -0.85% -1.33% $18 529 753 729 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 79.6% 30 $0.539617 -3.37% 0.14% $18 311 373 252 ADA 7 days price change
8 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $1.000284 0.07% 0.03% $18 290 625 677 BUSD 7 days price change
9 Solana (SOL) SOL Solana predictions 82.4% 33 $40.93 -5.16% -7.86% $14 278 599 462 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 80.4% 28 $0.081309 -3.94% 13.97% $10 787 373 078 DOGE 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 91.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 HEX (HEX) HEX HEX predictions 66.8% 67 $0.058800 -4.07% -5.94% $10 196 581 754 HEX 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 72.4% 54 $8.49 -3.98% -9.51% $9 404 789 562 DOT 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 74.8% 45 $0.000015 -5.46% 20.74% $8 193 283 954 SHIB 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 66.8% 63 $25.90 -5.15% -12.32% $7 381 113 738 AVAX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.