GRT/USDTPERP Long-Term Trend: Bearish
Key Resistance Levels: 0.85720, 0.94995, 1.10025.
Key Support Levels: 0.73900, 0.59890, 0.59000.
The price on the higher time frame posted a double top formation which led to a reversal and a move lower. In addition, an engulfing bearish pattern has been posted which helped for a huge tumble of the price. the market succeeded to break the daily support around the 0.85720 USDT and further downside movement is expected.
GRT/USDTPERP Medium-Term Trend: Bearish
On the lower time frame, the price is traded inside a bullish flag formation where a lower correction could be seen to the 50% Fibonacci retracement level which coincide with the bespoke support around the 0.74945 USDT mark. Once testing this area a reversal could be seen and then a move upward toward the next key level.
Sell Limit Order @ 0.85445
TP 1 @ 0.74840
TP 2 @ 0.59890
Stop Loss @ 0.89635
Trade Safely 🙂