![Shining a light on the Moonbeam [GLMR] trend in Q2 and Q3 2023](https://i.headtopics.com/images/2023/5/14/cryptoamb/shining-a-light-on-the-moonbeam-glmr-trend-in-q2-a-shining-a-light-on-the-moonbeam-glmr-trend-in-q2-a-1657756402390032386.webp)
The higher timeframe bias of Moonbeam remained extremely bearish on the price charts, despite the incongruence the OBV posed.
As Polkadot’s Ethereum-compatible smart contract para chain, the purpose of Moonbeam is to allow developers to construct Solidity apps in a Substrate environment.
The losses in April saw GLMR sink below $0.35, and the steady downtrend saw prices fall below the $0.317 level on 8 May. Therefore, despite the 80% rally in January and February, the evidence showed that the former higher timeframe downtrend was not broken. Since then, the OBV has only trended downward gently. It did not correspond with the pace that the prices have fallen. This could be an incongruence for bulls to watch out for, as it was a bullish OBV divergence. It hinted at the chance that recent bearish sentiment forced prices lower but was not accompanied by a large volume of sellers. The inference was that prices could recover upward quickly in the event of short-term bullishness across the crypto market.
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