Chart of the day - Moonbeam (26.12.2022)

Moonbeam is one of the few cryptocurrencies that gains more than 1% today. The range of gains has been 5-7% during the session so far. Huge upward move was started during the Asian session and after that the coin has fallen into consolidation. The gain on Moonbeam is quite impressive in comparison to other crypto projects and of course in relation to Bitcoin that is up only 0.2% today. Investors indicate that there has been an anomaly on cryptocurrency exchanges on Moonbeam as number of bids were 10 times bigger than asks during the Asian session.

On the other hand, looking at the volatility in the last few weeks, we can see that Moonbeam (GLMR) has performed rather worse than Bitcoin. At the same time, it can be seen that after a similar sudden upward spike that took place at the beginning of December, the price quite quickly erased some of the gain. After breaking the resistance at 0.34, the next target for bull should be located around the 0.3550.

Source: xStation5

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