GRT Price Is Back On Bullish Track, Eyes To Surpass $0.15!

The post GRT Price Is Back On Bullish Track, Eyes To Surpass $0.15! appeared first on Coinpedia Fintech News

Despite the strong and solid bullish breakout rally of a falling wedge, the GRT price hits a bearish roadblock with a market-wide correction. However, the resilient holders overcome the quick supply wave and continue to follow the bullish track. 

Further, the price of Bitcoin surpasses the $37K mark as it moves on from the Binance-induced bear phase. With the market leaders overcoming the pressure, altcoins are headed on a fast-track journey to recovery.

Source- Tradingview

Following the impressive bullish trend rise with the falling wedge breakout, the GRT price is stuck in a sideways stroll. However, the sharp moves in the highly volatile sideways trend keep the action exciting. 

Moreover, a sigmoidal distribution of trading volume over the past few weeks reflects the silent phase and anticipates a bullish return. 

Currently, the GRT price trades at $0.1413 with an intraday fall of 2.55%, forming a bearish candle. However, the last night’s jump of 15% undermines the 9.73% drop on 21st November. Therefore, it is evident that the buyers are preparing a solid comeback and may soon surpass the $0.15 barrier. 

Technical Indicators:

EMA: The golden crossover in the 50D and 200D EMA remains the bullish highlight of the GRT price chart. Signalling a bullish trend reversal, the EMAs expect a long-term uptrend in the Graph.

RSI indicator: The daily RSI line continues a declining slope as it approaches the halfway line. 

Will The GRT Price Skyrocket to $0.20?

As the market returns to the bullish cycle, the GRT price gracefully takes on the high road with the intent to reach $0.15. Moreover, the recent bullish engulfing candle improves the possibility of an uptrend per technical standards. 

Therefore, the $0.15 breakout will signal an excellent entry point for sideline traders and potentially pump the Graph token price to $0.20.

However, a reversal under $0.12 can plunge the token value to $0.1128 if things go south.