Will GLM Reach $1 Soon?

• Bullish GLM price prediction ranges from $0.2 to $1.
• GLM price might also reach $1 this 2023.
• GLM’s bearish market price prediction for 202 is $0.15.

Golem Network is an open-sourced computation platform with the aim of meeting the demand for computing power. GLM, Golem Network’s ERC-20 utility token, is utilized as a currency for peer-to-peer transactions. 

Golem investors are bullish on the token since it had a return on investment (ROI) of over 33 times in the past. The crypto bubble of December 2017 and early January 2018 led to an increase in the price of GLM to its present all-time high (ATH) of $1.25, attained in January 2018. Ever since it, it has been unable to break the psychological resistance. Irrespective of the recent crypto winter, which led to a dip in the price of most cryptocurrencies, GLM enthusiasts are confident that the future of GLM is bullish.

If you are interested in the future of Golem (GLM) and want to know the price analysis and price prediction of GLM for 2023, 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.

Golem (GLM) Market Overview

What is Golem (GLM)?

Golem Network is an open-sourced computation platform with the aim of meeting the demand for computing power. 

Its current native token is GLM, although Golem Network’s initial token was Golem Network Token (GNT). Holders of GNT can exchange it for GLM in the ratio of 1:1. The migration of GNT to GLM, which began at the end of 2020, is still ongoing and as of now a deadline has not been set.

Golem (GLM) is present in some blockchains like the Ethereum blockchain and Polygon blockchain. The main net of Golem was launched in April 2018.

Computer users whose systems are idle can provide unused computing capacity to those who most need it and, in return, will get paid in GLM. The Golem Network settlement layer is built on top of Ethereum’s Layer 2, reducing the rate for the transactions.

Moreover, the Golem Network also promotes creativity, ensuring that censorship and de-platforming will be completely eliminated. Through Golem Network’s unrestricted and proxy-free network, the team promises to grant creative freedom to the builders. 

Golem was founded in 2016 as Golem Factory by Julian Zawistowski, Andrzej Regulski, Piotr Janiuk, and Aleksandra Skrzypczak. Currently, the Golem Network still continues to provide its developers and creators with flexible, open-sourced platforms through its cutting-edge architecture. The Golem Network assures to become an accessible, reliable, open access, and censorship-resistant protocol.

Golem (GLM) Current Market Status

At the time of writing, GLM is trading at $0.2588, experiencing a rise of 8.48% in just seven days. Moreover, the GLM’s market cap is valued at $258,681,829, after witnessing a surge of 4.48% in 24 hours. The trading volume is valued at $20,951,453, experiencing a hike of 194.10% in 24 hours. This could indicate that traders are showing interest in GLM. 

However, as per CoinMarketCap, GLM has a circulating supply of 1,000,000,000 GLM, while its total supply is 1,000,000,000.

Some of the top cryptocurrency exchanges for trading Golem (GLM) are Binance, Kucoin, OKX, Gate.io, Bithumb, POLONIEX, and more.

Now that you know what GLM is and its current market status, let’s discuss the price analysis of Golem (GLM) for 2023.

Golem (GLM) Price Analysis 2023

Currently, GLM is ranked in the 139 position on CoinMarketCap, based on its market cap. Will developments and upgrades within the Golem community lead to a rise in the price of Golem (GLM)? With upcoming plans and projects within the Golem Network community, could it drive the price of GLM upwards? Let’s analyze this in the Coin Edition price prediction article.

Golem (GLM) Price Analysis – Bollinger Bands

The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The Bollinger Bands consists of upper and lower bands which can be used together, along with the middle line(simple moving average), to determine whether the price would rise or fall. 

The upper band of the BB is calculated by adding 2 times the standard deviations to the middle line, while the lower band is calculated by subtracting 2 times the standard deviation from the middle line. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean. As such, the prices of the cryptocurrency, when the Bollinger bands are applied should stay within the upper and lower bands 95% of the time is the concept behind this. 

Looking at the Bollinger Bands(BB) indicator, the recent candlestick has reached the top half of the indicator, indicating a bullish trend. Moreover, GLM has recently touched and crossed the upper band, which is an overbought region. GLM could face a price correction soon. If the price correction happens soon, traders could expect the price to trade between the upper band and the middle line, which is still within the bullish trend. 

However, a trend reversal could happen if the candlesticks fall into the bottom half of the indicator. This could indicate that GLM is facing a weak trend and there is a chance that it could fall into the oversold region if GLM’s candlesticks cross the lower band of the Bollinger Band. Ultimately, traders should observe the indicator and watch out for any early signs of trends.    

Golem (GLM) Price Analysis – Relative Strength Index

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered as the overbought region, and traders expect the price could fall soon.

The RSI is currently valued at 54.69, which is considered a neutral zone for traders. However, the RSI is pointed upwards, indicating that the price could go upwards for sometime. Moreover, the RSI formed a golden cross with SMA, which could be another signal that confirms GLM’s bullish trend. If the RSI continues its current trajectory, then, it could reach the oversold region. 

Traders should also be cautious about any trend reversals that may happen over the coming days.

Golem (GLM) Price Analysis – Moving Averages

The chart above shows the 1Day chart of GLM 200-day and 50-day Moving Average (MA). Currently, GLM shows signs of consolidation as the recent candlesticks formed between the 50MA and the 200MA. However, earlier, a golden cross was formed as the 50MA crossed the 200 MA and went above, which is considered an early sign of a bullish trend according to some traders. 

The 200MA and the 50MA are currently moving in a horizontal direction. Therefore, it is difficult to speculate the price’s movement without any clear sign. Traders should closely observe this indicator to confirm the GLM’s position before trading.

Golem (GLM) Price Analysis – Moving Average Convergence Divergence

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will simplify the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. 

Traders have reported that occasionally the Moving Average could create false signals about the price momentum, however, MACD plays an important role as it can confirm the trends and identify the potential reversals.

Furthermore, there are two methods through which traders can speculate the price’s momentum: the crossover method and the histogram method. In the crossover method, when the MACD line crosses above the signal line, the trend could change from a downtrend to a long trend. However, if MACD crosses below the signal line, this could indicate the start of a downtrend.

In the Histogram method, the bars above the signal line indicate an uptrend. Meanwhile, the Histogram bars below the signal line indicate a bearish trend.  

Looking at the MACD, there were many bullish signals for GLM, which drove its prices higher. The MACD line crossed above the signal line, which could be the start of a bull run. Moreover, the MACD’s histogram model shows that the recent bars are above the signal, which could be considered that the uptrend could continue for some time. For the short term, if the MACD line continues to remain above the signal line, then, the price could go beyond the $0.28 Resistance level. However, long-term traders should note that it is advised to wait for 3 or 4 days before confirming a bullish trend using the MACD indicator.

Golem (GLM) Price Prediction 2023

By looking at the daily chart of GLM/USDT, GLM price was swinging from $0.1962 to $0.2432 after almost touching the support level at $0.189.  Few indicators signaled the start of a bull run. Earlier, GLM was trading in between the two MA indicators.

However, GLM’s candlesticks are currently trading above the 50 MA indicator and the 200 MA. This could be considered a signal that the bullish trend for GLM will start soon. If the GLM uptrend continues, then, the candlesticks could break through the Resistance 1 level and continue to trade between Resistance 1 and Resistance 2. 

Furthermore, the RSI (Relative Strength Index) also confirms the bullish signal. As the RSI has crossed above the SMA and its current trajectory is towards the overbought region. If RSI reaches the overbought, then GLM could face a price correction. 

GLM is experiencing a strong trend and may continue to rise over the coming months. However, traders should be cautious of any trend reversals.

Golem (GLM) Price Prediction – Resistance and Support Levels

This chart shows that the price of GLM has increased by 6.73% in the past 30 days. If this price increase continues, GLM could break the $0.33 Resistance1 level and move higher to $1.04 at the Resistance 5 level and even higher, which is the forecasted bullish signal for 2023.

However, if traders continue to sell, the price of GLM might be dethroned from its present uptrend position. Ultimately, GLM could be trading below the Support level at $0.1596, which is the forecasted bearish signal for 2023.

Golem (GLM) Price Prediction 2024

Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. GLM could also be affected by Bitcoin halving and could trade beyond the price of $3 by the end of 2024.

Golem (GLM) Price Prediction 2025

GLM could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, GLM will continue to rise in 2025 forming new resistance levels. It is expected that GLM would trade beyond the $6 level by the end of 2025

Golem (GLM) Price Prediction 2026

With the number of GLM hodlers on the increase and the growing sentiment about cryptocurrencies, GLM has the possibility of holding most of its recent gains and consolidating. Hence, the price of GLM could trade around $10 by the end of 2026 due to the bear market that serves as a market correction after a strong bullish run.

Golem (GLM) Price Prediction 2027

By the end of 2026, most investors will be preparing for a possible trend reversal in the direction of the bulls. This is due to the possibility that the market has attained its minimum support level. The price of GLM could surge to $15 by the end of 2027.

Golem (GLM) Price Prediction 2028

In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. Therefore, the market could attain a higher high-value Golem (GLM) could hit $20 by the end of 2028.

Golem (GLM) Price Prediction 2029

By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin (BTC) halving, could surge the price of GLM to $25 by the end of 2029.

Golem (GLM) Price Prediction 2030

The cryptocurrency market experienced high stability as a result of the hodling activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Golem (GLM) to trade around $30 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.

Golem (GLM) Price Prediction 2040

The long-term forecast for GLM indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. However, GLM may face a slight fall before starting its upward journey once again. It is expected that the average price of GLM could reach $60 by 2040.

Golem (GLM) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, GLM could surpass the resistance level of $75.

Conclusion

As said above, GLM might reach $1 in 2023 and $30 by 2030 if investors have decided that GLM is a good investment, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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