Issued on: 15th Jun’23
Valid upto: 20th Jun’23
Token: GRT
Category:Infrastructure
Market Cap: $855 Million
Circulating Supply: 9,011,325,571
Total Supply: 10,679,038,435
Price Update:
GRT price at the time of writing (15th June, 17:00) is $0.09514, with 24-hour trading volume increased by 70.00% to $41 Million. GRT price is Down by 3.88% in the last 24 hours according to coinmarketcap.com.
Source: Tradingview
Analyzing the above chart:
- GRT is currently below the 200MA, which indicates a bearish trend. It is continuing its downtrend after a significant rejection at the $0.152 level.
- After breaking the major $0.975 level, GRT is now moving towards the next support level downward, which is at $0.0835.
- In the 4-hour timeframe, we can see that GRT is currently consolidating after experiencing a decline of more than 20% in just one week. Given the weak overall market conditions, we anticipate that GRT will likely continue its bearish downtrend.
- A Short Trading strategy can be assessed between $0.094-0.102 with invalidation above $0.103
- On the downside, one can see a fall of 10-12% towards $0.0835.
- It would seem that one should maintain a balanced risk to reward ratio and check use of leverage and position size to ride out current market conditions.
Note: GRT is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
