- The GRT coin price action retests the bullish breakout of the $1.0 mark in the 4-hour chart.
- The GRT/BTC pair trades at 0.00001712 BTC with a rise of 1.66%.
- The 24 -hours volume for GRT coins is $179 Million, indicating a 35% fall.
The GRT coin price action gives a bullish breakout of the crucial resistance level of $1.00 in the 4-hour chart. Furthermore, the price retraces to the horizontal level to retest the bullish breakout. Hence, traders can find buying at current prices profitable.
The GRT price shows a rising bullish trend, with its price trading higher than all the crucial EMAs 50, 100, and 200. Moreover, the 50 and 200 days EMA gives a bullish crossover which will empower the bullish pressure.
The coin price shows lower price rejection; moreover, the pivot points indicate resistance levels at the $1.30 and $1.55 mark if the price gives bullish reversal. Additionally, on the flip side, the support levels are at $0.95 and $0.69.
Is It Too Early To Buy The GRT Coin?
As we have already mentioned, the GRT coin’s price is gaining momentum due to the increased buying pressure. Recently, a bullish breakout of the $1.00 has been observed, indicating that the coin price is ready to start a bull run. The underlying buying pressure is therefore increasing. Hence, the retest of the bullish breakout seems like a perfect buying opportunity.
As of press time, the coin’s price is $1.11. There has been an increase in value by 4.52% during the past 24 hours. GRT’s intraday trading volume also fell by 35%.
As the slope rises above the centerline, the RSI indicator will indicate a rise in underlying bullishness. The price action shows no divergence from the slope. RSI indicator, therefore, gives a buy sign.
MACD indicators indicate the MACD line is moving higher than the signal line is in a bullish alignment in the 4-hour chart. These lines are above the centerline. This creates a buy sign.
Conclusion: From a technical perspective, the GRT coin shows lower price rejection, evident by the bullish engulfing candlestick in the 4-hour chart. And, the price action hints at a bullish reversal upon successful retest. Hence, traders can find buying opportunities at current prices.
Resistance– $1.30 and $1.55
Support– $0.95 and $0.69