- GRT token price has risen more than 100% in the last month.
- The coin price trades slightly above the 200-day EMA and may shortly give a bullish rally.
- The GRT/BTC token pair is trading at 0.00002162 BTC with an intraday growth of +7.37%.
The Graph token price rises higher after the breakout of the double bottom pattern in the daily chart. The crypto asset has seen a price jump of more than 100% in the past month.
The token price trades slightly above the 200-day EMA while all the other EMAs rise higher in a bullish alignment that may shortly result in a bullish crossover.
The GRT Token price at the moment is $1.06. The market cap increased by 14850% over the past 24 hours. It means that prices are rising with a bullish boost.
The intraday trading volume of the token has risen by 85% over the last 24 hours. It indicates that investors are growing interest in the coin and could lead to a bullish breakout.
Parallel Channel Growth For GRT Token
The GRT coin price has been uptrend after rising above inside the rising parallel with the latest bullish volume growth. Furthermore, the coin price has been trailing higher than all the EMAs while increasing in a bullish alignment.
The token price forms higher price rejection near the resistance trendline of the parallel channel that may shortly induce a retracement back to the support trendline or the $0.97 mark.
If the price sustains above the resistance of 200-day EMA, the coin price could encounter resistance at $1.66 or $2. On the other hand, the bulls may stop the downtrend if the price drops below $0.48 if it breaches below the $0.97 and the support trendline.
Investors could see a bullish rally reaching 30% to 60% if bullish momentum continues to rise in the parallel channel. However, investors should not be overwhelmed by a climactic fall in the price.
The RSI indicator predicts growth in underlying bullish sentiments as the slope of the relative strength index indicator approaches the overbought zone.
As the coin price has increased 100% over the last month, the ADX indicator casts a tremendous rise in trend momentum.
Conclusion – AS the GRT token price has shown impressive growth over the past few sessions, the entry point for safe investors is still a bit away. However, as the odds of a bearish turn decline notably, the dip at the support trendline could act as an entry point.
Support – $0.97
Resistance – $1.66 and $2