GLMR Technical Analysis: Bullish Surge Increases $1.40 Breakout

GLMR price chart shows a higher low formation arising within a consolidation range. Can we expect the increasing bullish influence to break above $1.40? Key technical points: The GLMR market value increased by 4.64% today at press time. The price action shows a support trendline in action. The 24-hour trading volume of the Moonbeam is $27.56 Million, indicating a drop of 20%. Past Performance of GLMR GLMR prices find bullish support at the psychological support of $1 after sellers kept a high-momentum downtrend and cracked multiple support levels. The bullish support helped cushion the downfall and started a sideways trend with overhead resistance at $1.40. However, the growing bullish influence creates a higher low formation generating an ascending trendline which increases the likelihood of a $1.40 breakout. Source- Tradingview GLMR Technical Analysis The recent V-shaped reversal from the support trendline displays an increased buying activity as the demand for GLMR grows overnight. However, the higher price rejection projects a potential profit booking influenced selling spree. The falling trend in the 50(red), 100(blue), and 200(black)-period EMAs maintain a bearish alignment. Moreover, the 50 and 100-period EMAs provide a bearish dynamic resistance to keep the bullish growth in check. News Live Crypto The RSI indicator shows a sharp upside reversal in the RSI slope from the nearly oversold zone to reach the 14-day SMA aft...