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- 1 Moonbeam price (GLMR) surged 50.2% in the past 24 hours and is currently trading at $0.242.
- 2 Moonbeam experienced a price hike ahead of the listing of its native token GLMR on the Korean exchange “UPbit”.
- 3 Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. $GLMR is the utility token.
GLMR is a native token of Moonbeam that has been trading below $0.2 for weeks and has soared after the news of its listing on Upbit, a major Korean exchange. UPbit announced today that it will launch the GLMR/BTC pair later today.
This is a big boost for Moonbeam, as Korea is a key market for digital currency trading. The GLMR token has surged by 50.2% in the intraday session ahead of the news about it being listed on UPbit. The lift-off is supported by a massive 2390.6% gain in the volume in the past 24 hours.
Moonbeam, a key protocol in the Polkadot ecosystem, has achieved a lot by attracting many dApps, rewarding early supporters, and partnering with others. Moonbeam is a rival of Astar Network, and it needs to expand its reach and access. Its listing on UPbit, a big Korean exchange, is a vital step for its long-term success.
Moonbeam Price Showed A Breakout Of 50-Day EMA
The price trend analysis of the GLMR token demonstrates that the coin had been following a declining channel pattern. The price kept on rolling between both the upper and lower boundary of the channel and declined. However, The listing of GLMR has created a lot of excitement in the industry, as the token has recovered most of its losses in the past month.
The volume analysis shows that GLMR crypto received $70.2 Million in the past 24 hours, which is 2390% more than the last day’s volume. The crypto holds a market cap of $161.8 Million and ranks 142nd in the crypto market. The volume-to-market-cap ratio is 39.44% indicating a very high volatility in the market.
Technical Indicators Show Strength Over The Daily Chart
MACD lines are showing a positive crossover. Additionally, histogram bars are being formed above the mean line of increasing height, indicating that buyers are dominating the trend.
The EMA analysis shows that the GLMR price managed a breakout of the 50-day EMA, indicating a short-term bullishness. The price may gain more to reach the 200-day EMA if it continues to surge with this momentum.
Conclusion
Moonbeam, a Polkadot protocol, has seen its token GLMR surge, ahead of being listed on UPbit, a major Korean exchange. GLMR was trading below $0.2 for weeks, but it soared by 50.2% intraday with a 2390% increase in volume. The listing has boosted Moonbeam’s prospects, as it can attract more dApps and partners. GLMR has broken out of a declining channel pattern and recovered most of its losses in the past month. The token has a market cap of $161.8 million and ranks 142nd in the crypto market.
Technical Levels
- Support Levels: $0.214 and $0.169.
- Resistance Levels: $0.26 and $0.298.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
