Radix (XRD) and Moonbeam (GLMR) Eyeing For Major Breakouts: Are Big Rallies On Horizon?

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Dec 09 2024

GLMR+6.618%

MAJOR+1.28%

GMT+3.821%

Should l Buy GLMR?

Bitcoin and Altcoin Surge: Bitcoin has reached a new all-time high of $103,900, leading to significant rallies in altcoins like Radix (XRD) and Moonbeam (GLMR), which have seen impressive gains of 124% and 101% respectively over the past month.
Resistance Levels and Potential Breakouts: Both XRD and GLMR are approaching critical resistance levels that, if broken, could lead to substantial price increases, with potential targets of $0.085 for Radix and $0.73 for Moonbeam, although investors should remain cautious due to market volatility.

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Technical Analysis for GLMR

Technical Sentiment Analysis for Moonbeam (GLMR). As of , Moonbeam (GLMR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for GLMR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, GLMR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Moonbeam (GLMR) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00859	0.0106	0.0124	0.0144	0.0162	0.0182	0.02
Fibonacci	0.0106	0.012	0.0129	0.0144	0.0158	0.0167	0.0182

About GLMR

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam makes it easy to use popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment.Moonbeam is much more than just an EVM implementation: it’s a highly specialized parachain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations.Moonbeam’s Ethereum compatibility is unmatched:Minimal Changes: developers can use existing Solidity smart contracts right away, with no need to rewrite or reconfigureUse Existing Developer Tools: connect popular tools like MetaMask, Hardhat, Waffle, Remix, and Truffle via a complete set of Web3 RPC endpoints. Use well-known Javascript libraries such as Web3.Js or Ethers.Js.Unified Accounts, Addresses, and Signatures: use your existing Ethereum H160 accounts & ECDSA signatures to interact with MoonbeamTap into the Most Integrations on Polkadot: use existing oracles, bridges, wallets, and other tools that are already building on MoonbeamMoonbeam provides integration and connectivity between Polkadot Parachains as well as with other chains such as Ethereum and Bitcoin via bridges. Moonbeam was started in 2019 by Derek Yoo of Pure Stake.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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