Golem Review - Technical Analysis
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
With benefits, wich Gridcoin has, people even do not pay for computations what you need. Done.
What do you think about #Gridcoin? One of the advantage of Gridcoin & BOINC over Golem is that computation is free where as you have to pay for computation on Golem.
The other advantage of Gridcoin is you can get paid NOW, because its already fully functional.
Wow, I didn't know anything about Gridcoin. It looks like they have a really solid community behind them. Golem is based on the Etherium platform, which I like. I'll have to read more into Grid, they could probably use a makeover for their website, for some reason that's always a big selling point for me.
Yeah well its been around for 4 years already so some stuff needs a bit of a spring clean, but the community is very strong. The reason is many of us come from BOINC, and we love giving our spare compute power to cure diseases, map the milky way, discover the mysteries of the sub atomic universe and a lot of other interesting stuff; we are motivated somewhat by money, but we are also passionate about giving back to humanity. So you have a crypto where we dont run away when the price drops, and we dont all cash out when the price rises, a hodlers dream perhaps.
We have a forum on chainBB
@scalextrix. Awesome stuff. I'll check out your forum. I always have part of my portfolio as a long term investment. I may consider adding some Grid. Time to research
Of course, do your own due dilligence, good luck
The website is actively under development, expect updates soon https://github.com/grctest/gridcoin-site
An interesting analysis, @gayboy! Even if I'm not so familiar with some terms that, I imagine, are used by you the traders.
Thanks @vickaboleyn that's an interesting point. I'll try to explain things better in future posts!!!!
goood post ;)