GRT: Making a move?
After a month long consolidation, GRT is setting up for a move. This coin doesn't always move with BTC, but if BTC make a move towards new price discovery, GRT, along with other alts will most likely make move towards the same direction. Since Feb 12th high, GRT is moving within a downward channel, making lower highs and lower lows. The March 12th low could be considered as a higher low and price is looking to setup for at least a local higher high. Here are a few things to consider to play the next setup.
1. RSI might be setting up for a bullish divergence with price making higher low and RSI making lower low. It is not confirmed yet, until there is a daily closure above 2.19.
2. ADX is getting picked up since March 8th bottom. DI plus is moving above DI minus. If DI plus moves above 20 and DI starts to pick up steam along with RSI regaining the EMA line, it could be a buy signal.
3. Bollinger bands are narrowing as price is trying to move above the middle line. If price regains support above the mid line and the outer bands start to expand, along with RSI and ADX/DI confirmation, it could be a really good buy signal.
4. Finally a break above the downward channel while the other indicators are signaling buy. If it happens with some volume support, GRT could be ready for its next explosive move.
GRT has been extremely volatile with massive jumps and dumps. If this starts to move along with the positive market direction, this asset could provide one of the highest ROIs in the short term. The conservative target would be to test the last prior high, but it will most like not stop there. We might see several hundred percent move just like the prior two breakouts. I will be watching closely.
1. RSI might be setting up for a bullish divergence with price making higher low and RSI making lower low. It is not confirmed yet, until there is a daily closure above 2.19.
2. ADX is getting picked up since March 8th bottom. DI plus is moving above DI minus. If DI plus moves above 20 and DI starts to pick up steam along with RSI regaining the EMA line, it could be a buy signal.
3. Bollinger bands are narrowing as price is trying to move above the middle line. If price regains support above the mid line and the outer bands start to expand, along with RSI and ADX/DI confirmation, it could be a really good buy signal.
4. Finally a break above the downward channel while the other indicators are signaling buy. If it happens with some volume support, GRT could be ready for its next explosive move.
GRT has been extremely volatile with massive jumps and dumps. If this starts to move along with the positive market direction, this asset could provide one of the highest ROIs in the short term. The conservative target would be to test the last prior high, but it will most like not stop there. We might see several hundred percent move just like the prior two breakouts. I will be watching closely.
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