This new week has started off somewhat positive for crypto. Most coins continued the weekend rally, with Graph posting decent gains over the past 3 days. The coin saw a slight pullback today, however, but overall the bullish momentum is still strong. With the increase in trading volume, we could see GRT earn more before the end of the week. Here are some key points:
GRT managed to overcome the long-term resistance at $0.093.
The coin is still above this price despite today’s 5% pullback
We expect GRT to resume its bullish run and could reach $0.15 in the next few days.
Data Source: TradingView
TSO Price Prediction and Analysis
GRT, like many other coins on the market, had a short period of steady recovery after the price crashed about a week ago. The token has actually reported three consecutive days of gains. As it gains momentum, GRT also managed to overcome a crucial long-term resistance zone of $0.093.
This pushed the token slightly above $0.1, where it was consolidating before pulling back slightly over the past 24 hours. Although there is still significant downside risk in the market, we believe that GRT still has enough momentum to target the $0.15 resistance.
The coin will likely resume its bull run over the next few days, especially now that trading volume appears to be increasing. There is, however, very limited upside above $0.15. This remains the 20-day EMA of the coin and as such, it will take a lot of short-term strength to overcome the price.
Should you trade GRT now?
The market is still volatile and altcoins like GRT are not out of the woods yet. So while a short-term deal might be on the cards for GRT, holding it longer might expose investors to future market downturns. So you can still buy the coin but make sure you exit at $0.15.