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GRT’s price action has successfully moved above the $0.1577 mark, testing it as support multiple times. This support was defended, and price action progressed towards higher levels.
Key GRT Statistics:
Current GRT Value: $0.1861
Market Cap: $1,750,066,321
Circulating Supply: 9,361,375,948
Total Supply: 10,791,922,063
CoinMarketCap Ranking: 50
Key Price Levels:
Resistance: $0.1861, $0.1900, and $0.2000
Support: $0.1800, $0.1700, and $0.1600
Buyers Retain Firm Control in the GRT Market
The ongoing session has been beneficial for bullish traders in The Graph’s market. The corresponding price candle appears conspicuously long with an upper shadow, indicating a previous test of resistance at the $0.1900 price mark.
Although there was a minimal downward correction, the price action remains above the 21-day Moving Average (MA) line. The Moving Average Convergence Divergence (MACD) indicator lines have converged, providing a more bullish impetus. Consequently, this is likely to deliver more upside momentum towards higher price levels.
The Graph’s Price Action Shows Consistency in Reaching Higher Levels
About two trading sessions ago, GRT’s price action was in the green, recording considerable profits. The ongoing session has seen a minor downward correction, with the upper shadow of the last price candle piercing through the $0.1900 mark. Price action stands at a considerable distance above the 21-day MA line.
Furthermore, the MACD indicator lines continue to trend upwards despite the minimal downward correction seen in today’s latest session. The solid green appearance of the MACD bars is indicative that prices may proceed further upwards toward the $0.2000 price level as trading continues.
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