The post GRT Price Analysis: Whales Dump As Secret Reveal Inflates GRT! appeared first on Coinpedia Fintech News
With a sharp 24% jump in GRT price overnight, the altcoin reached a peak of $0.1632, fueled by the news of a mysterious announcement on November 7th. However, with quick profits from the GRT whales, the pullback undermines the bull run and leads to an indecisive state for the Graph.
However, the overall uptrend for the Graph GRT token price sustains momentum and teases a strong prevailing trend, ready to get back in action.
Following the $0.10 reclamation, a sharp increase in the trend momentum drove the GRT price above the crucial Fibonacci levels. With a 103% jump, the altcoin reached the $0.1632 mark within three weeks.
However, the immense supply above the $0.16 mark due to profit booking by whales, the prices plunge under $0.14. Currently trading at $0.1392, the 11.79% intraday drop leads to a short-term bearish viewpoint despite the excitement of the mysterious announcement.
Moreover, the uptrend fails to sustain above the 38.20% Fibonacci level and takes a step back to the 50% Fibonacci level. With this move coming as a retest, a post-retest reversal can refuel the bullish momentum in GRT price.
Technical Indicators:
EMA: The rising 50-day exponential average line teases a high possibility of a golden crossover with the 200-day EMA.
MACD indicator: The momentum indicator showcases skyrocketing MACD and signal lines in the positive territory.
Will The GRT Price Skyrocket to $0.15?
With buyers regaining trend control after a 66% pullback, the GRT price trend remains one fo the best-performing altcoins in the past two months. With a double bottom reversal to a falling wedge breakout, the Graph coin price continues to head high.
Moreover, with the mysterious announcement ready to pump the prices, the altcoin may soon reclaim the $0.16 mark and head to $0.20.
Conversely, a reversal under $0.1311 can plunge the market value to the $0.1128 mark.