Sign Up on MEXC
On February 24th, the (Graph) GRT buyers arrested the downfall at $0.3 psychological level and rejected the price immediately. The altcoin surged 20% in the past four days, trying to breach the immediate resistance of $0.363. However, a genuine recovery needs the bulls to break and close above the $0.39 mark.
Key technical points:
- The GRT buyers breached a minor resistance level of $0.363
- The intraday trading volume in the GRT is $125.6 Million, indicating a 33.6% gain.
Source- Tradingview
On February 21st, the GRT sellers gave a deceive breakdown from $3.9 support. The following retest day indicates the support has flipped to resistance, resulting in a 20% downfall. The sellers pulled the altcoin to a $0.3 psychological level, but a sudden demand in the crypto market reverted the price, accounting for a 15% rejection tail.
Today, the GRT/USDT pair bounced back from the $0.33 mark, registering a 9.2% intraday gain. The coin chart shows crucial SMAs(20, 50, 100, and 200) are declining in a bearish alignment, indicating a downtrend.
The sudden price pump pushed the MACD fast line higher, approaching the slow line from below. This bullish crossover would trigger a buy signal for the traders.
GRT/USDT: 4-Hour Time Frame Chart
Source-Tradingview
Today’s GRT price jump would bolster the GRT buyers to breach the immediate resistance of $0.39. If they succeed, the traders would get their first sign of recovery and drive the altcoin 30% high to the $0.5 mark.
Contrary to the above assumption, if sellers mount stiff resistance at $0.39 and restrain the altcoin below. The selling pressure would accelerate and dump the price back to $0.33 support.
- Resistance levels- $0.39, $0.445
- Support levels are $0.33 and $0.3
- Shiba Inu Update: SHIB Team Freezes 4.6M BONE Following Shibarium Bridge Hack Warning
- Trump-Backed WLFI Token Signals Rebound As Team Announces Buyback Plan
- Bitcoin ETF Inflows Shoot $642M Before Fed Rate Cut Catching Up With Gold Rally
- Analyst Predicts SUI Breakout as Group Approves $50M Buyback Program
- BlackRock Dumps Ethereum, Buys $366M in Bitcoin
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
- Solana Price Prediction: Ford’s $1.65B Treasury Bet Sets Sights on $320
- Dogecoin Price Prediction as CleanCore Pushes Toward 1B DOGE Target- Is 92% Rally Ahead?
