Golem's next move has a potential upside of +64%
Golem is a global, open sourced, decentralized supercomputer that anyone can access. It is made up of the combined power of user's machines, from personal laptops to entire datacenters. Using Golem you'll be able to run almost any program on this platform in a decentralized, inexpensive way. One example of its uses, would be to host websites. A website like Poloniex, that receives massive amounts of traffic, could definitely benefit from a boost in processing power.
I detected an ascending triangle pattern on Golem's chart a couple days ago. An ascending triangle indicates accumulation and is a bullish signal.
I anticipate Golem touching the lower ascending trend line [1, 3, 5, 7] one more time before it breaks through 23,000 Satoshi's. The ascending triangle pattern is only valid if it consistently has higher lows. The breakout range equals the same distance from the base of the triangle to it's resistance level. This roughly translates to a new high of 38,000 Satoshi's and a 64% gain.
Poloniex's bid & ask charts confirm my suspicion of a sell wall at 23,000 Satoshi's. If you're interested in trading Golem, I would monitor this number closely. The markets move fast, and FOMO will take Golem to new highs.
If you want to learn more about Golem, I encourage you to check out their website. Please upvote, subscribe and share the love!!
Cheers,
Gayboy
