The Graph

June 18, 2025 at 20:48

GRT Faces Downtrend, Needs to Reclaim $0.14 to Turn Bullish

#GRT has gone below an important upward support level and retested the lower boundary of its previous consolidation zone, which now acts as resistance. Currently, the price is shaping a bearish continuation pattern below the long-term downward trend line. If this bearish trend continues, there is a likelihood of a decline toward the $0.052 support level. To reverse this bearish outlook, buyers need to regain the $0.14 level to restore bullish momentum.

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Analysis

The recent price action of GRT indicates a bearish shift after breaking below a significant ascending support line. The retest of the former consolidation zone's lower edge, now acting as resistance, confirms that the previous support has flipped to resistance, a typical bearish signal. The formation of a bearish continuation pattern beneath a long-term downtrend line suggests the bearish momentum could deepen, especially if the price fails to break back above key resistance levels. The critical support level at $0.052 represents a potential target if the bearish trend continues unabated. Conversely, the immediate resistance at $0.14 needs to be reclaimed by buyers to invalidate the current downtrend and suggest a possible reversal. Maintaining above this level would indicate that bullish momentum is resuming, encouraging more buying activity. Market participants should closely monitor the price action around these levels. If GRT continues to stay below resistance and drops further, traders may consider short positions or wait for clearer bullish signals before entering long trades. Conversely, a strong rebound above $0.14 could signal the beginning of a recovery phase. Overall, the technical setup signals caution. The current trend favors downside risk unless buyers are able to re-establish control above critical resistance levels.

Recommendation

Given the current bearish setup, it is advisable to exercise caution. Traders should monitor the $0.14 resistance level closely; a decisive move above it could invalidate the bearish outlook and provide a buying opportunity. Until then, maintaining a cautious stance or considering short positions might be prudent if the downward momentum continues. It is essential to wait for confirmation through price action before making substantial entries. A break below $0.052 would further confirm the bearish trend, suggesting that aggressive shorting could be justified for experienced traders. In summary, the market currently favors caution. Keeping an eye on the key resistance and support levels will help in making informed decisions aligned with the prevailing trend.

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.