GroestlCoin Mid-Term Scenarios
Updated
Groestlcoin has been corrected down for 47 days since it reached the $2.75 high on 21st of December 2017. Correction resulted in a 85% decline while reaching $0.4 support area.
GRS/USD nearly tested the 88.6% Fibonacci retracement, however, the support hasn't been touched, and while RSI formed a bullish divergence price started to move higher. The downtrend trendline has been broken and on a correctional move down 4/1 Gann Fan has been rejected, forming the local support at $0.54.
GRS Coin should continue moving higher towards either $1, that is technical as well as psychological level and should be treated as a key resistance. Break above could push price further towards $1.5 area. If $1-1.5 will be rejected it is possible that price will correct down again, but this time to test 88.6% support at $0.37.
GRS/USD nearly tested the 88.6% Fibonacci retracement, however, the support hasn't been touched, and while RSI formed a bullish divergence price started to move higher. The downtrend trendline has been broken and on a correctional move down 4/1 Gann Fan has been rejected, forming the local support at $0.54.
GRS Coin should continue moving higher towards either $1, that is technical as well as psychological level and should be treated as a key resistance. Break above could push price further towards $1.5 area. If $1-1.5 will be rejected it is possible that price will correct down again, but this time to test 88.6% support at $0.37.
Note
Groestlcoin trading at the supportTrade closed: target reached
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