The graph (GRT) doubles in October, what’s next?

The graph (GRT) has risen above the September highs and there is almost no resistance until $ 1.65.

Day outlook

The GRT has been rising since October 1 when it broke a descending resistance line. This shows that the correction that lasted all of September has come to an end.

Both RSI and MACD support the continuation of the uptrend.

The RSI, a momentum indicator, has been bullish since the breakout mentioned above. On October 23, it surged above 70. This is a strong sign of an uptrend. The sharpest part of a bullish move usually occurs when the RSI is above 70.

The MACD, formed by the short and long-term moving averages (MA), is in positive territory and rising. This means that the short term trend is faster than the long term trend.

On October 26th, the GRT finally surged above the September high of $ 1.05. Now the next area of ​​resistance is at $ 1.65. This is the 0.5 fib retracement resistance and the horizontal resistance range.

Daily GRT / USDT Chart | Source: TradingView

Trader @Incomesharks outlined the GRT chart, suggesting the token could rise to $ 1.65. As mentioned above, the token has started an upward move and is rising towards the USD 1.65 resistance area.

The source: Twitter

BRT / BTC

The GRT / BTC pair is not yet as bullish as its USD counterpart, but it is showing signs of strength.

First, GRT / BTC broke above the long-term descending resistance line. Second, it has regained the horizontal zone of 1500 Satoshi after initially deviating below it (red circle). This is a bullish development that usually precedes upward moves.

Additionally, as mentioned above, the RSI has moved above 50 which is a sign that momentum is turning up.

Finally, there is a bullish divergence in the MACD. This means that while the price is falling, the MACD will not do so and is considered a sign of strength.

GRT needs to move above 2250 satoshis for the uptrend to accelerate.

3-day frame GRT / BTC chart | Source: TradingView

You can see the BRT prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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