The Graph (GRT) stated that after the general drops in the cryptocurrency market on Monday, the GRT fell to the primary support of $ 1.6.
The GRT is moving towards testing resistance. But the values on the chart indicate that the GRT will experience a breakout towards $ 2.
Fracture Can Strengthen GRT
The 4-hour chart shows a Moving Average Convergence Divergence (MACD) moving horizontally below the mean line. If the trend momentum indicator remains in the same position, the dominant trend will experience sideways progress in the near term.
As long as support at $ 1.6 continues on the 4-hour chart, a break is expected in the upcoming candles. Buying and selling above the 100-day simple moving average (SMA) will strengthen the bulls’ influence on the price and a rise towards the $ 2 level.
Also, if there is a break below the $ 1.6 support, big sell orders may come and if the price goes down, the last support point stands at $ 1.45.