$GRT



Price and Trend Overview

  • The current price of GRT/USDT is $0.1991, reflecting a +2.84% increase for the day.

  • The price is above the 200-period Moving Average (MA) at $0.1630, signaling sustained bullish momentum in the medium term.

  • A breakout attempt is visible as the price approaches the resistance zone, suggesting potential for further upside.

Key Support and Resistance Levels

  1. Resistance Levels:

    • Immediate Resistance: Located at $0.2000-$0.2100, aligning with historical rejection zones.

    • Secondary Resistance: If broken, the next target could be $0.2500, marking a significant upward milestone.

  2. Support Levels:

    • Primary Support: Found at $0.1800-$0.1850, where the 200-period MA provides dynamic support.

    • Secondary Support: A broader safety zone lies between $0.1600-$0.1650, which represents the previous accumulation phase.

Momentum and Volume Insights

  • RSI (Relative Strength Index):

    • Currently at 63.33, indicating bullish momentum. While below the overbought threshold, it suggests room for further upward movement.

  • MACD (Moving Average Convergence Divergence):

    • A bullish crossover is present, with the histogram showing strengthening positive momentum. This supports the ongoing trend.

  • Volume:

    • Volume is 40.986M, reflecting steady market participation. Increased volume near resistance levels could confirm a breakout, while a lack of volume may indicate fading bullish strength.

Market Outlook

  • Short-Term Scenario: The price is testing the $0.2000-$0.2100 resistance zone. A successful breakout with rising volume could drive the price to the next target at $0.2500.

  • Potential Pullback: If rejected, a pullback to the $0.1800-$0.1850 zone is possible, where buyers may look to re-enter the market.

  • Bullish Confirmation: Sustained movement above $0.2100, supported by volume and momentum, would signal a stronger bullish trend.

Conclusion

GRT/USDT is demonstrating bullish momentum, driven by its position above the 200-period MA and supported by strengthening MACD and RSI. Immediate resistance lies at $0.2000-$0.2100, with potential upside to $0.2500. Strong support exists at $0.1800-$0.1850, offering a safety net in case of a pullback. Traders should monitor volume activity and resistance reactions for confirmation of the next significant price move.