🚨 Warning: GLM Facing Potential Downtrend? Read Before You Buy! 🚨
📉 GLM/USDT is Up 39%—But Is It Sustainable? 📉
GLM has seen an explosive 39.83% increase in the past 24 hours, but traders should proceed with caution. While the momentum may seem bullish, several indicators suggest a potential correction or even a pullback is on the horizon.
Key Red Flags for GLM:
🔴 Overbought Conditions?
A sudden surge of nearly 40% without strong fundamental backing raises concerns of a pump-and-dump scenario.
RSI and MACD are approaching exhaustion levels, indicating a potential cool-down phase.
🔴 Whale Manipulation?
Recent large transactions suggest that whales might be offloading their holdings after pushing the price up.
Could this be a classic case of “buy the rumor, sell the news”?
🔴 Weak Support Levels
Price action suggests that $0.3650 - $0.3430 is a critical support zone.
If selling pressure increases, a breakdown could send GLM plummeting back to $0.30 or lower.
🔴 Volume Discrepancy
While price spiked, volume is not sustaining at high levels, which could indicate that the rally lacks conviction.
What Should Traders Do?
🚀 Short-term traders: Consider taking profits before a potential dump.
⚠️ Investors: Be wary of buying at the peak—wait for a solid retracement.
📊 Shorting opportunity? If GLM fails to hold support, a bearish move could create a lucrative short setup.
What do you think? Will GLM hold or dump? Let’s discuss! 👇🔥
