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- 1 GRT price shows an extension of upward movement in the last session.
- 2 Buyers are accumulating steadily.
GRT price healed from the demand zone of $0.0800 and retained the bullish territory in an impressive bullish performance in recent sessions. Moreover, the price action shows the buyers accumulation and GRT crypto persisted in forming the higher highs and is replicating a positive trend on the charts. Additionally, the correction has ended and fresh pullback was witnessed following the crypto market pump.
GRT price surpassed the significant moving averages and persisted in forming the higher highs sequence over the past sessions. However, the chart exhibits a rising wedge pattern and buyers are staying cautious to hold the gains above the 20 day EMA mark to avoid any false breakout. Furthermore, the trend is strong and positive sentiments led GRT price above the crucial hurdle of $0.1500. However, the GRT price is trading close to the supply zone of $0.1700.
The live price of GRT crypto is $0.1734 with an intraday gain of 3.45%, highlighting neutrality on the chart. Moreover, the trading volume increased by 6.15% to $119.34 Million. At press time, the pair of GRT/BTC was 0.00000410 BTC while the market cap was $1.29 Billion. Analysts have maintained a buy rating and suggest an outperform rating per the ongoing trend.
GRT on Daily Chart Forms Rising Wedge Pattern
On the daily chart, GRT price witnessed a trend reversal and was gaining momentum in the recent sessions. Moreover, the price action displayed a fresh pullback and is sustaining the gains above the primary hurdle of $0.1500. Per the Fibonacci retracement zone, GRT price has escaped the 50% zone and is above the mid bollinger band.
The Relative strength index (RSI) stayed in the overbought zone displayed a neutral view and is suggesting the continuation of buying momentum for the upcoming sessions. The MACD indicator shows a bullish crossover and green bars on the histogram, suggesting a positive outlook for the following sessions.
Weekly Charts Replicates Trend Reversal
On the weekly chart, GRT token price showcased a trend reversal and surpassed the 50 day EMA hurdle amid fresh buying momentum. Moreover, the technicals suggest that GRT price will continue to perform well and if it overtakes the primary hurdle of $0.1800, it will reach $0.2000 soon.
Summary
GRT price surpassed the significant moving averages and is close to the supply zone of $0.1800 which the bulls are trying to escape. Moreover, the buyers have regained strength and are aiming for the swing high mark of $0.2000. Technicals are giving positive signals as well.
Technical Levels
Support Levels: $0.1700 and $0.1500
Resistance Levels: $0.1800 and $0.2000
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
