GRT Technical Analysis in Daily TimeframeHello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
JSE:GRT has been in a bearish trend since March 2024, and it has respected the lower support level at $0.1463, forming a new support trendline.
The current rebound indicates a possible rally toward the resistance trendline, but first, it needs to break above the 50 EMA, which is the primary resistance for $GRT.
Soon, JSE:GRT aims to reach the local high resistance level at $0.4935 once it breaks above the resistance trendline.
Key levels:
- Primary Support: $0.173.
- Lower Support: $0.1463.
- Primary Resistance: 50 EMA ($0.2178).
- Higher Resistance: $$0.2642.
- Target: $0.4935.
- Invalidation Point: A close below the lower support.
DYOR, NFA.
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