The GraphLong
GRTUsd Clear breakout spotted looking for a target
Hi everyone,
Grt has been a project with strong fundamentals and it has previously shown exponential price hike. It was in consolidation for a long time but now it has clearly broken out of its downtrend.
A major Suport trendline was held properly along with horizontal support.
The First target is at 2 dollas.
A higher lows are clearly intact, all we need is a high and a Higher High
Currently Rsi on daily is overextended which can result in a pullback for a better buy.
Also keep an eye on a 1 region, if it gains strength from dollars we can expect that 1 dollars has become strong support and it will look for 2, 3 and finally a 5 dollar target in medium term.
On the bearish side, if market declares this as a fakeout and return back inside the breakout trendline, time to exit as we might see a strong correction which is less likely at this stage.
Best of luck
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Grt has been a project with strong fundamentals and it has previously shown exponential price hike. It was in consolidation for a long time but now it has clearly broken out of its downtrend.
A major Suport trendline was held properly along with horizontal support.
The First target is at 2 dollas.
A higher lows are clearly intact, all we need is a high and a Higher High
Currently Rsi on daily is overextended which can result in a pullback for a better buy.
Also keep an eye on a 1 region, if it gains strength from dollars we can expect that 1 dollars has become strong support and it will look for 2, 3 and finally a 5 dollar target in medium term.
On the bearish side, if market declares this as a fakeout and return back inside the breakout trendline, time to exit as we might see a strong correction which is less likely at this stage.
Best of luck
Please like and subscribe for more analysis
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