Market Overview for Golem/Bitcoin (GLMBTC)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Saturday, Jan 17, 2026 12:05 am ET1min read
BTC
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Aime RobotAime Summary

- GLMBTC price failed to hold 2.99e-06 resistance, forming bearish rejection patterns before dropping to 2.83e-06.

- Volatility contraction and sharp move below Bollinger Bands confirmed increased bearish pressure with volume spikes at key breakdowns.

- RSI in oversold territory and MACD bearish bias suggest potential short-term bounce, but divergence indicates further downside likely.

- 2.83e-06 support and 2.91e-06 resistance levels identified, with Fibonacci retracements indicating possible near-term price boundaries.

Summary
• Price action showed bearish momentum after a failed 2.99e-06 resistance test.
• Volume spiked at 18:15 ET and again at 00:30 ET, confirming bearish continuation.
• Bollinger Bands contracted mid-session, followed by a sharp drop below the lower band.
• RSI remains in oversold territory, suggesting possible near-term support at 2.83e-06.

Golem/Bitcoin (GLMBTC) opened at 3e-06 on 2026-01-16 at 12:00 ET, reached a high of 2.99e-06, and fell to a low of 2.83e-06 before closing at 2.83e-06 on 2026-01-17 at 12:00 ET. The 24-hour volume totaled 158,510.0 units with a notional turnover of 0.45285 BTC.

Structure & Formations


Price tested the 2.99e-06 level twice, forming bearish rejection patterns before breaking down to 2.83e-06. A large bearish engulfing candle on the 5-minute chart confirmed the breakdown. The key support level now appears to be 2.83e-06, with 2.91e-06 acting as a short-term resistance.

Moving Averages


On the 5-minute chart, price closed below both the 20SMA and 50SMA, reinforcing bearish bias. Daily moving averages suggest a continuation of the downtrend, with the 200SMA providing a distant potential support at ~2.85e-06.

MACD & RSI


MACD remained bearish with the signal line above the histogram throughout the session. RSI entered oversold territory below 30, signaling potential for a short-term bounce. However, divergence between RSI and price movement suggests further downside remains likely.

Bollinger Bands


A volatility contraction was observed mid-session, followed by a sharp move below the lower Bollinger Band, indicating increased bearish pressure. Prices may remain within the bands unless there is a strong catalyst for a breakout.

Volume & Turnover


Trading volume spiked at 18:15 ET (10,042 units) and again at 00:30 ET (15,391 units), coinciding with key breakdowns. Turnover remained low compared to the previous day, suggesting limited institutional activity.

Fibonacci Retracements


From the 2.99e-06 high to the 2.83e-06 low, the 38.2% Fibonacci level is at 2.91e-06 and could act as near-term resistance. A potential 61.8% retracement at 2.86e-06 may offer some support before retesting the 2.83e-06 level.

Price appears to be forming a bearish consolidation pattern near 2.83e-06, with the potential for a rebound off key support levels. Investors should remain cautious about the risk of further downside in the next 24 hours, particularly if volume continues to support bearish momentum.