menuIcon
$ 84,501.1
BTC
$ 84,501.1
-0.42 %
$ 1,590.73
ETH
$ 1,590.73
0.58 %
$ 0.6258
ADA
$ 0.6258
1.05 %
$ 591.88
BNB
$ 591.88
0.20 %
$ 133.77
SOL
$ 133.77
0.62 %
Sanjay Shukla
Nov 26, 2022
by Sanjay Shukla

GRT Technical Analysis: Pullback at $0.059 Signals Start of New Bull Cycle

GRT Technical Analysis
The GRT technical analysis shows a highly influential bullish trendline owing to the recent surge in prices, with RSI hovering around the overbought zone.

The Graph (GRT) has shown tremendous growth in recent weeks by delivering a rise of 5.1% in the last 7 days. With GRT’s market cap increased by 5.72% to  $425.43 million, the token price also grew by 7.49% in the last 24 hours. The spike of 86.36% in the trading volume to $35.09 million has also been a factor behind the current bullish momentum in the token. Before rebounding remarkably, breaking above the mark of $0.065, the GRT prices fell to $0.59 during early trading hours. However, the current bull run also suggests a slight reversal if prices face opposition from the overhead resistance 

Key Points

  • The strong bull cycle takes the GRT above the 200-day EMA 

  • With a jump of 7.49% the GRT prices brakes above $0.065

  • The intraday trading volume in GRT is $35.09 million, reflecting an 86.36% rise 

    • GRT Technical Analysis

    Backed by the dramatic surge in demand among buyers, the GRT price action shows strong bullish momentum with prices breaching the $0.065 mark. After a recent slash, the GRT witnessed a pullback at $0.059 facing opposition from 200-day EMA. The prices breaking above 161.80% on the Fibonacci retracement level represent an unprecedented spike that may result in a reversal. If bullish momentum continues GRT price may reach $0.070, where buyers can expect entry opportunities. Whereas if the token witnesses a bearish reversal or breakout from the current trading price of $0.065, it could revolve around $0.062.

    Technical Indicators

    Making a bullish divergence, the RSI slope steeply jumped into the overbought zone above 14-day SMA, highlighting high buyer pressure in the market. The increasing gap between fast and slow lines while giving a bullish crossover on a strongly bullish histogram displays a strong upward trend in the market. 

    Therefore the technical indicators display a bull run, showing buying opportunities for traders before prices begin to reverse 

    Follow us on: News
    The Graph GRT technical analysis GTR
    GRT Technical Analysis: Pullback at $0.059 Signals Start of New Bull Cycle
    Sanjay Shukla
    Sanjay Shukla is a Content Writer with Cryptoknowmics, India's biggest media platform in crypto. He has more than 8 years of experience in the Business and Finance domains. Sanjay writes excellent content on cryptocurrencies, trading, Bitcoin, and the share market, to help the readers have deep insight into the topic.

    Top Picks