Bitcoin

The post <a href="https://coinpedia.org/price-analysis/grt-price-takes-off-with-successful-retest-eyes-0-20-breakout/" rel="noopener noreferrer nofollow">GRT Price Takes Off With Successful Retest, Eyes $0.20 Breakout!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Speeding up on New Year’s Eve, the GRT price shows a quick overnight rise of 3.20% to tease a bullish comeback. With the strong support at a Fibonacci level leading to an engulfing candle, the Graph token prices may soon continue the prevailing trend.&nbsp;
Despite the lethargic pace of the Bitcoin trend, the overnight fightback from the GRT holders marks a positive feat. Therefore, the chances of a prolonged uptrend in the Graph price trend increase significantly.&nbsp;&nbsp;
For a more detailed approach to the annual trend of The Graph, check out our <a href="https://coinpedia.org/price-prediction/the-graph-grt-price-prediction/" rel="noopener noreferrer nofollow">GRT price prediction</a>.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="466" src="https://image.coinpedia.org/wp-content/uploads/2024/01/01105520/GRTUSD_2024-01-01_09-02-15-1024x466.png" alt="" class="wp-image-257694" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/01105520/GRTUSD_2024-01-01_09-02-15-1024x466.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105520/GRTUSD_2024-01-01_09-02-15-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105520/GRTUSD_2024-01-01_09-02-15-768x349.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105520/GRTUSD_2024-01-01_09-02-15-1536x699.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105520/GRTUSD_2024-01-01_09-02-15-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105520/GRTUSD_2024-01-01_09-02-15.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source- <a href="https://www.tradingview.com/x/YZV28HSO/" rel="noopener noreferrer nofollow">Tradingview</a>
With the falling channel breakout leading to a streak of higher highs in the GRT price trend, the uptrend continues for the altcoin. Moreover, the uptrend marks a splendid last quarter of 2023 for the Grpah with an astounding 130% return.&nbsp;
Ending the struggle to surpass the $0.15 barrier, the GRT price ends the year with a successful retest of the $0.1753 breakout. With the growing support of investors, the rising trading volume bolsters each price spike and signals a pullback with each decline.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="471" src="https://image.coinpedia.org/wp-content/uploads/2024/01/01105527/GRTUSD_2024-01-01_09-59-54-1024x471.png" alt="" class="wp-image-257695" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/01105527/GRTUSD_2024-01-01_09-59-54-1024x471.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105527/GRTUSD_2024-01-01_09-59-54-300x138.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105527/GRTUSD_2024-01-01_09-59-54-768x353.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105527/GRTUSD_2024-01-01_09-59-54-1536x707.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105527/GRTUSD_2024-01-01_09-59-54-150x69.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/01105527/GRTUSD_2024-01-01_09-59-54.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source: <a href="https://www.tradingview.com/x/4E4p2VrU/" rel="noopener noreferrer nofollow">TradingView</a>
On a closer look, the short-term trend in GRT price displays two solid boundary trendlines forming a channel pattern. This highlights a bullish trend in motion and teases a continuation to form a new 52-week high.&nbsp;
Currently, the GRT price trades at $0.1870 with an intraday move of 1.74%, forming a bullish candle. However, the higher price rejection remains dominant in the last two candles, warning the sideline traders to take a steady approach.&nbsp;
Technical Indicators:
RSI Indicator: The daily RSI line shows a spike from the halfway line, approaching the overbought boundary. However, this opposes the crossover in another momentum indicator.
MACD Indicator: Due to the ongoing pullback, the MACD and signal lines give a bearish crossover. However, the bounceback from $0.1753 can revert the average lines to their prevailing positive alignment.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-grt-price-skyrocket-to-0-20">Will The GRT Price Skyrocket to $0.20?</h2>
With the buyers at the 78.60% Fibonacci level helping a reversal from $0.1753, the uptrend chances in GRT price increase sharply. With a successful retest, the Graph price may shortly reach the psychological mark of $0.20. Optimistically, the uptrend can cross $0.20 to challenge the $0.25 mark.&nbsp;
However, a reversal under $0.1753 can plunge the token value to $0.15.

GRT Price Takes Off With Successful Retest, Eyes $0.20 Breakout!

Table of Contents

CoinPedia News

Other articles published on Jan 1, 2024

Orbit Chain Acknowledges Hack of $82M and Alerts on Fraudulent Repayment Schemes

Proof-of-Work: The Original & the Prevalent Consensus Mechanism

Hardware Wallet: A Crypto Storage Tool Offering Robust Security

What Will Be The Price Impact If Bitcoin (BTC) Spot ETF Is Rejected? Analysts Explained

VinBigdata Launches ViGPT: Vietnam’s Tailored AI Assistant

Ethereum “Set For Further Gains,” Analyst Puts This Target

Join our free newsletter for daily crypto updates!