GRT Price Eyes $0.20 Break For A 25% Upside Move $GRT

Experiencing a bearish start in 2024, GRT faced a breakdown after failing to rebound from a longstanding support trendline. However, recent market improvement has revitalized bullish momentum, marked by the recovery of the trendline and the formation of a triple white soldier pattern, resulting in a notable price surge.

This newfound momentum positions The Graph token for a potential ascent to a new 52-week high in 2024. The sustained increase in trading volume from 2023 to 2024 supports the positive price trend, and robust demand around the $0.15 mark is evident from buyers' recent pushback.

The bullish trend reflects an 18% surge in the last three days, with minimal intraday growth of 1.44%. The technical chart indicates strong support for the recovery trend, emphasizing the triple white soldier pattern, a bullish signal pointing towards trend continuation.

As of now, GRT is traded at $0.1898, exhibiting a potential Doji candle with minimal intraday movement. Key technical indicators further support the positive outlook:

- RSI Indicator: The daily RSI line hints at a reversal from the nearly oversold zone, suggesting a potential rise above the neutral line.

- MACD Indicator: The recent bullish comeback positions the MACD and Signal lines for a turnaround. An imminent reversal before crossing below the zero line may signal a trend reversal.