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Uptrend Against Multiples Bearish Zones

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Crypto News

GRT coin prices are up against multiple resistance zones as the ongoing uptrend gains bullish momentum.

The Graph (GRT) is a decentralized, open-source infrastructure protocol intended to receive, process, and collect blockchain data initially originated on the Ethereum blockchain.

And recently, the Graph went live on Moonriver (MOVR), as the robust indexing protocol further expands into the Polkadot and Kusama ecosystems.

Let us now look at the technical analysis of Graph cryptocurrency.

Past Performance of GRT

The Graph Token is under the solid bullish momentum while forming higher highs and lows. GRT coin, after a double top formation, has furnished a breakdown and reaches near the lower levels.

Nevertheless, the recovery from the lower levels created a strong bounce back from the oversold zone. As a result, volume over the weekly chart is slightly lower and must grow strongly for the rally till the $1.10 mark.

Uptrend Against Multiples Bearish Zones

GRT Technical Analysis

GRT cryptocurrency is currently at $0.9654. Additionally, the cryptocurrency has increased by 11.33% in the last 24 hours. Thus, reflecting the growth in underlying bullishness. Moreover, the price jump is supported with a volume burst, as the intraday trading volume increases 40%. Hence, indicating a large entry of buyers.

As per the pivot points in the daily chart, the following prominent resistance levels are at $1.24 and $1.40. And, on the other hand, the support levels are at $0.90 and $0.78.

MACD and signal lines on the daily chart trend higher above the zero line. Moreover, the lines maintain a positive alignment. Hence, the indicator gives a slightly bullish signal for GRT crypto.

The RSI indicator shows growth in underlying bullishness as the slope enters the overbought region. Hence, we can see a retracement (as a retest) upon the $1.10 breakout.

Upcoming Trend

As per the Graph technical analysis, the underlying bullishness of GRT crypto is growing considerably. However, the entry opportunity awaits the bullish breakout of the $1.10. However, buying at the current market price with a strict exit point can also be profitable.

#Uptrend #Multiples #Bearish #Zones

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