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Cryptoknowmics 2022-04-26 20:45:45

GRT Technical Analysis: 50-Day EMA Kicks Another Bullish Attempt Down

The gradual jump in buying activity reflects a high momentum breakout but fails to surpass the 50-day EMA. Will the GRT coin price succumb under $0.36? Key technical points: GRT price shows a higher price rejection from the 50-day EMA. The MACD indicator shows a potential bullish crossover. The 24-hour trading volume of The Graph is $381 Million, marking a 150% rise. Past Performance of GRT After the bloodbath in January plunged the GRT price to below the $0.52 mark, buyers struggled to break through this barrier for the last three months. The recent reverse of the $0.52 mark lowered the prices by 33% and reached the $0.35 level. But, over the next two weeks, the price has remained close to the support level. Source-Tradingview GRT Technical Analysis GRT price showcases a sideways movement near the $0.36 level over the past two weeks, struggling to surpass the 50-day EMA. However, today’s sudden increase in buying pressure reached the 50-day EMA but failed to sustain at higher levels. The significant gap between the bearish aligned EMAs reflects a solid underlying bearishness that keeps the bullish growth under check. MACD Indicator: The failed bullish spike brought a bullish crossover of the MACD and signal lines in the negative territory. RSI Indicator: The sideways trend in the nearly oversold zone shows a gradual rise to reach the halfway mark after surpassing the 14-day average. Hence, the technical indicators display a r...

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