- GRT token price is trading above the supply zone on a daily time frame, after focusing on the demand zone.
- The GRT token price is forming a flag and pole pattern over a 4-hour time frame.
- The pair of GRT/BTC is trading at the price of 0.000005821 with an increase of 2.58% in the past 24 trading hours.
GRT token price, as per the price action has stormed past the long-term green trendline acting as a strong supply zone. At present, the token is showing a one-sided rally after the breakout. Therefore investors can expect some consolidation or fall in the price of the GRT token. The token was respecting the green trendline, but recently the bulls overpowered the bears, as a result, the token gave a huge breakout. As of now, the time price is forming higher high and higher low formation on a daily time frame. Although there is a small resistance at $0.15. As seen on the charts bullish pressure is strong and therefore the resistance of $0.15 can be seen breaking too. The GRT token price is trading above the 14 SMA and 50 MA as it gave a breakout of it. Going forward the token price can be seen resting at these Moving Averages. Despite the bullishness in the price of GRT tokens, it is yet to break the 100 MA. Moving forward this MA can act as a strong supply zone. The GRT token price is trading at the upper band of the Bollinger band indicator. Recently the token bounced off the lower band of the Bollinger band indicator and since then the token price is in an up move. Volumes have increased during the breakout phase supporting the breakout of the green trendline supply zone.
The GRT token price is forming a flag and pole pattern on an hourly time frame
Relative Strength Index: RSI curve is trading at the price of 66.59 as the token nears the supply area. At present, the RSI curve has crossed the 20 SMA. The token is forming higher low and higher high formation on a 4-hour time frame as the token shows bullishness in the higher time frame. The GRT token price can be seen moving when it breaks out of the flag and pole and the RSI curve moves higher.
Moving Average Convergence Divergence: MACD indicator has given a positive crossover as the token gave a breakout of the supply zone. The blue line crossed the orange line on the upside. This has resulted in the token price moving up strongly in a 4-hour time frame. Recently the GRT token price fell after the breakout of small resistance. Once the token price starts moving up again after retesting, the gap between the blue and orange lines can be seen widening supporting the trend.
Average Directional Movement Index: ADX has been continuously rising as the token price broke an important supply zone of $0.1200. As of now, the token price is trading above this important demand zone. The breakout zone is now acting as a strong demand zone. At present, the token price is trading at $0.1379. ADX curve has dipped out of the 20 mark.
CONCLUSION: GRT token price is trading above the supply zone. As of now, the token is forming higher high formation on a daily time frame. The technical parameters are also bullish. It remains to see if the token price continues the trend or not.
SUPPORT: $0.100 and $0.12
RESISTANCE: $0.15 and $0.17