Moonbeam is a Polkadot parachain that aims to improve multichain compatibility with Ethereum and other networks. Moonbeam is a smart contract parachain whose objective is to make Ethereum developer tools more accessible to individuals. Moonbeams has permitted balance transfers and the Ethereum Virtual Machine ( EVM ) on its network, which is one of its distinguishing features.

Bullish Scenario: The price of GLMR has risen above the $3.45 support level . We could see a retest of this level in the coming days, and if the $5.61 resistance level is broken, we could see a move towards $6.91, $8.41, and higher.

Bearish Scenario: On a shorter time frame, such as 4 hours, (4H), GLMR has been in an uptrend channel for a few weeks, but we can’t disregard the bearish altogether, and failure to hold the support levels of $3.45 and $1.22 might lead to a plunge to $0.24 and below.