After consolidating for some days, the GRT price has ignited a serious uptrend which is currently uplifting the price towards the upper resistance area. No doubt the asset is experiencing constant rejections, yet the asset appears to be poised to clear these levels at the earliest.
Currently, the buyers seem to be aggressive despite the sellers trying hard to capitulate to the market. And hence after a strong brawl, the buyers may be successful to drag the price out of the consolidation and attempt to hit $0.4 to end the day’s trade on a bullish note.
Despite a strong bullish kick-start for the month, the price underwent a huge bearish trend in between. However, the asset managed to rebound strongly forming constant higher highs and lows. Currently, the price is attempting to test the immediate resistance around $0.4 slicing through the trend line. However, the possibilities of a pullback may not be neglected as the bears still appear pretty strong.
|Short-Term||The price after raising high to some extent may undergo a minor price drain as the bears are leaving no stones unturned to keep the price within the descending trend|
|Mid-Term||GRT price is slowly rising high to maintain a steady approach, possibly to eliminate steep price variations. And eventually, the asset may end up slicing above the trend line and keep surging ahead|
|Long-Term||The asset has flipped recently from the rock-bottom levels and is expected to keep up the bullish trend intact for some more time.|
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||55.8 / 49.6||Buy / Neutral|
|MACD(12,26)||0.005 / -0.015||Buy / Sell|
|Average Directional Index(ADX)||24.09 / 32.05||Sell / Buy|
|Bull-Bear Power||0.0021 / 0.0507||Buy / Buy|
|Average True Range(ATR)||0.0078||0.02|
The GRT price in the short-term is somewhat bearish which may be flipped at any time from now. The price has surpassed the 50-day & 200-day MA levels and displays a huge bullish tendency to achieve immediate resistance at the earliest. However, attaining $0.4 levels, the price may be slightly above the danger zone.
On the other hand, the price in the long term is currently neutral, waiting for the respective volume to decide the next leg, As the asset is not volatile in both the time frames, a steady rally may be expected. The strength of the rally is also expected to intensify soon which may display a strong uptrend shortly.
Additional Read: The Graph Token Price Prediction
Additional Read: Top Crypto News Today, 15 March 2022.
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