Golem has been suffering from market conditions lately as well. It has been moving slowly and is currently breaking down into the key-area of support, the “last hope” for GNT. Should this support break and not hold the price stable or even show a minor reaction, there might be many more downsides for GNT.
Looking at technical indicators, the MKAST Algorithm has just switched into a sell-condition, which is understandable and clear for anyone watching the conditions. The MKAST Index is at 1/15 points, which is quite low and near an oversold condition. This low index point can be especially interesting since GNT is testing its support for the second tie only, and with the nearly oversold conditions, this could turn out bullish. Moreover, the volume is decreasing and not very much supporting the ongoing selling.