Moonbeam (GLMR) Price Prediction 2023 — Will GLMR Hit $0.5 Soon?
- Bullish GLMR price prediction is $0.6358 to $2.3277.
- Moonbeam (GLMR) price might also reach $0.5 soon.
- Bearish GLMR price prediction for 2022 is $0.3191.
In Moonbeam (GLMR) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about GLMR to analyze the future movement of the cryptocurrency.
Moonbeam (GLMR) Current Market Status
| Current Price | $0.324 |
| 24 – Hour Trading Volume | $6,278,667 |
| 24 – Hour Price Change | 2% down |
| Circulating Supply | 492,276,499 |
| All – Time High | $19.50 (On January 11, 2022) |
What is Moonbeam (GLMR)?
Moonbeam (GLMR) is the native utility token of the Moonbeam platform. GLMR can be used to pay transaction fees on the Moonbeam network as well as smart contract execution fees. GLMR enables on-chain governance by allowing token holders to engage in network issues such as proposal referendums and electing council members.
Moonbeam is a delegated proof of stake (DPoS)-based smart contract parachain on the Polkadot network with an Ethereum-compatible environment. The Moonbeam platform allows developers to create DApps that function over a multi-chain network. The platform completed its three-phase launch process on January 11, 2022.
Moonbeam (GLMR) Price Prediction 2023
Moonbeam (GLMR) holds the 155th position on CoinGecko right now. GLMR price prediction 2023 is explained below with a daily time frame.
The above chart of Moonbeam (GLMR) laid out the descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
Currently, Moonbeam (GLMR) is in the range of $0.324. If the pattern continues, the price of GLMR might reach the resistance levels of $0.3470, $0.3720. If the trend reverses, then the price of GLMR may fall to $0.3181.
Moonbeam (GLMR) Support and Resistance Levels
The chart below shows the support and resistance levels of Moonbeam (GLMR).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Moonbeam (GLMR).
| Resistance Level 1 | $0.6358 |
| Resistance Level 2 | $1.1003 |
| Resistance Level 3 | $2.3277 |
| Support Level | $0.3191 |
The charts show that Moonbeam (GLMR) has performed a bullish trend over the past month. If this trend continues, GLMR might run along with the bulls overtaking its resistance level at $2.3277.
Accordingly, if the investors turn against the crypto, the price of Moonbeam (GLMR) might plummet to almost $0.3191, a bearish signal.
Moonbeam (GLMR) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Moonbeam (GLMR) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of GLMR lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Moonbeam (GLMR) is shown in the chart above. Notably, Moonbeam (GLMR) price lies below 50 MA (short-term), so it is completely in a downtrend. Currently, GLMR has entered a bearish state. Therefore, there is a possibility of a reversal trend of GLMR at any time.
Meanwhile, the relative strength index (RSI) of the GLMR is 41.08. This means that Moonbeam (GLMR) is nearly in an oversold state. However, this means a major price reversal of GLMR may occur in the upcoming days. So, traders need to trade carefully.
Moonbeam (GLMR) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Moonbeam (GLMR). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Moonbeam (GLMR). Currently, the ADX of GLMR lies in the range of 9.9414 and thus, it indicates a weak trend.
The above chart also represents the Relative Volatility Index (RVI) of Moonbeam (GLMR). RVI measures the constant deviation of price changes over a period of time. The RVI of GLMR lies below 50, indicating low volatility. In fact, the RSI of Moonbeam (GLMR) is at 41.08 thus confirming a potential sell signal.
Comparison of GLMR with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Moonbeam (GLMR).
From the above chart, we can interpret that the price action of GLMR is similar to BTC and ETH. This indicates that when the price of BTC and ETH increases or decreases, the price of GLMR also increases or decreases respectively.
Moonbeam (GLMR) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Flow (FLOW) between 2024 and 2030.
Moonbeam (GLMR) Price Prediction 2024
With several upgrades in the network, Moonbeam (GLMR) might enter a bullish trajectory. If the coin grabs the attention of major investors, GLMR might rally to hit $1.5 by 2024.
Moonbeam (GLMR) Price Prediction 2025
If Moonbeam (GLMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, GLMR would rally to hit $2.5.
Moonbeam (GLMR) Price Prediction 2026
If Moonbeam (GLMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, GLMR would rally to hit $4.
Moonbeam (GLMR) Price Prediction 2027
If Moonbeam (GLMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, GLMR would rally to hit $6.
Moonbeam (GLMR) Price Prediction 2028
Moonbeam (GLMR) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, GLMR would hit $8 in 2028.
Moonbeam (GLMR) Price Prediction 2029
If investors flock in and continue to place their bets on Moonbeam (GLMR), it would witness major spikes. GLMR might hit $10 by 2029.
Moonbeam (GLMR) Price Prediction 2030
With greater advancements in the ecosystem, the crypto community might continue to invest in GLMR for the next 8 years and drive significant price rallies for the token. Hence, Moonbeam (GLMR) might hit $12 by 2030.
Conclusion
With continuous improvements in the Moonbeam network, we can say that 2023 is a good year for GLMR. For this reason, the bullish price prediction of Moonbeam (GLMR) in 2023 is $2.3277. On the other hand, the bearish price prediction of Moonbeam (GLMR) price prediction for 2023 is $0.3191.
Furthermore, with the advancements and upgrades to the Moonbeam ecosystem, the performance of GLMR would help to reach above its current all-time high (ATH) of $19.50. very soon. But, it might also reach $0.5 if the investors believe that GLMR is a good investment in 2023.
FAQ
Moonbeam (GLMR) is the native utility token of the Moonbeam platform. GLMR can be used to pay transaction fees on the Moonbeam network as well as smart contract execution fees.
Moonbeam (GLMR)has been listed on many crypto exchanges which include Binance, DigiFinex, BKEX, Gate.io,and OKX.
With the ongoing developments and upgrades within the Moonbeam platform, GLMR has a high possibility of reaching its ATH soon.
On January 11, 2022, Moonbeam (GLMR) reached its new all-time high (ATH) of $19.50.
Moonbeam (GLMR) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Moonbeam in the past few months, GLMR is considered a good investment in 2023.
Moonbeam (GLMR) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Moonbeam (GLMR) will hit $0.5 soon.
Moonbeam (GLMR) price is expected to reach $1.5 by 2024.
Moonbeam (GLMR) price is expected to reach $2.5 by 2025.
Moonbeam (GLMR) price is expected to reach $4 by 2026.
Moonbeam (GLMR) price is expected to reach $6 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/moonbeam-glmr-price-prediction-2022-will-glmr-hit-6-soon/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
