- 1 GRT is currently trading at $0.1164 while seeing a change of 27.61% in the 24-hour trading volume.
- 2 The GRT price observed a decline of 5.02% in the last 24 hours.
The GRT price is at present making an attempt to make a rebound from the demand zone. If the price is successful in onboarding the bulls from the support zone the price is predicted to see an increase of 53% within the next few weeks. Presently, it is consolidating near the demand zone around its previous support level. The current value of the GRT token is $0.1165 and it has a market cap of $1.05 Billion.
The majority of the technical Indicators are in favor of bulls. The price will require substantial support from buyers from the 200 EMA in order to regain its previous value. The oscillators – RSI and Stochastic RSI are at present trading in contrast with each other.
The Investor’s Sentiments and Social Engagement Levels
Investor sentiments regarding the GRT price have taken a bearish turn whereas the social engagement metrics are also recording a downfall of 59.76. The total bullish sentiment of the GRT tokens is recording a downfall of 30.92%. The buyer’s bearish opinions may also get reflected in the price action in the near future if the price does not succeed in defending the current support zone.
Market sentiments is in the Greed zone with 65 points according to the greed and fear index, provided by the Alternative (dot) me platform. There was a decline of 3 points within a short span of time where the sentiments were at 68 points.
Technical Analysis of GRT Price
The RSI line is at present crossing below 14 SMA after taking rejection from the median line. At present, the RSI line is trading at 41.22 points, whereas the 14 SMA is trending just below it at around 38.51 points.
At present, the stochastic RSI is taking rejection from the overbought levels. The %K line is giving a bearish interception to the median line after taking a reversal from 80.00 points. At present, the value of the Stochastic RSI is 47.58 points.
Conclusion
According to the analysis, If the price of GRT gains the investor’s support it can make an uptrend of 52% within the next few weeks reaching its target near $0.1800and its imminent support zone is at the $0.1000 level. The majority of the technical indicators are in favor of a bullish reversal.
Technical Levels:
Support –$0.1800
Resistance – $0.1000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.