Technical analysis Golem. GNT-BTC on November 8, 2018November 8, 2018
GOLEM is essentially a decentralized supercomputer that uses its personal cryptocurrency based on Ethereum. This project should not be considered as a payment system, the idea is to use the free resources of the personal capacity of the user’s computer. In simple terms, the user can rent idle idle power for a certain fee according to the principle, as in the case of P2P platforms. You decide which power to rent: space on the hard disk, part of the RAM, power of the processor or video card. And in the same way, if you do not have enough resources to solve any problems, you can rent them. Golem completely changes the way you organize and execute calculation tasks. By enabling decentralized microservices and asynchronous task execution, it will become a key building block for future Internet service providers and software development. Thanks to the development of this project, it will be possible to significantly reduce the cost of computing, and complex applications, tasks and other actions will become more accessible for everyone. The idea of the project is very interesting and looks quite in demand, we recommend paying attention to GNT and studying its official information.
Looking at a large scale chart, we see that an asset, like most coins, has lost its value for a long time, but in the last period support was found, the character of lateral movement was tested and adopted several times. You may notice the spent pattern of the inverted head and shoulders, which on a visible scale and at current levels may indicate the market prerequisites for turning and beginning to build an upward movement. Current levels look like a good place to open long-term investments. The project does not stand still and develops constantly, besides technical analysis, a fundamental review also demonstrates a positive future for GNT.
It is very likely that we are starting to follow the uptrend, and the breakdown of the nearest local resistances can be very impulsive, but with a subsequent regular rollback. MACD is in a bullish range, which indicates a greater likelihood of continued upward movement. The RSI looks strong and may become increasingly bullish. The highlighted red zone is an area of dense support, which will be extremely difficult to leave below. But if this happens, be careful, the asset may follow a downtrend for a while. Considering the sequence of Fibonacci resistances, we can identify areas to which the market will strive, these zones will be our main objectives for the long term.