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$GLMR Explodes +34%: Is the Moonbeam Rally Just Getting Started?
$GLMR (Moonbeam) lived up to its name today, printing a massive vertical green candle on the 4-Hour chart and hitting a high of 0.0341.
But before you hit that "Buy" button, let's look at the indicators. This chart is screaming "Extreme Overbought."
🚀 1. The Breakout (The Good News)
Volume Explosion: Look at the volume bars at the bottom. They are massive compared to the previous days. This indicates genuine institutional interest or a massive short squeeze.
Trend Reset: The EMAs (Yellow, Pink, Purple) were flat and tangled for days, and now they have expanded violently upwards. This is often the start of a new macro trend.
⚠️ 2. The "RSI 92" Warning (The Bad News)
The Danger Zone: The RSI(6) is reading 92.61.
The Rule: An RSI above 90 is incredibly rare. It means buyers are exhausted.
The Gap: The current price (0.0323) is floating way above the Yellow EMA 7 support (0.0273). That is a 15% gap.
Physics: In trading, price acts like a rubber band. If it stretches too far from the average (EMA), it will snap back. A drop to test the 0.0270 level is highly probable.
🎯 Trade Setup: Patience Pays
Entering a Long position here is statistically dangerous. We wait for the "cooling off."
View: Wait for Retest (Dip Buy).
⛔ Resistance: 0.0341 (Today's High).
📉 Buy Zone (Limit Orders): 0.0270 - 0.0280.
Why? This aligns with the EMA 7 catching up to the price. We want to buy when the "rubber band" is relaxed, not stretched.
🚀 Target: 0.0350+ (New Highs after consolidation).
🛑 Stop Loss: 0.0245 (Back inside the old range).
💡 Trader's Note:
Don't FOMO into a vertical green line! If you buy now, a standard healthy pullback could liquidate you. Let the 4H candle close and wait for red candles to appear before entering.
Disclaimer: This is technical analysis, not financial advice. High Risk Setup.
#GLMRUSDT #MoonbeamNetwork #CryptoBreakout #SpotTrading.