This is a monthly timeframe chart of GRT/USDT (The Graph vs. Tether). Let's analyze the situation:
1. Trend and Structure
Overall, the price is in a long-term downtrend after peaking in 2021.
There is a possible ascending triangle or accumulation zone, where the lower support line is gradually rising.
2. Support and Resistance Levels
Support: ~0.1047 (current zone), ~0.0805 (lower support).
Resistance: ~0.1170, ~0.1632, ~0.1748 (key levels the price needs to break for an uptrend).
3. Volume and Indicators
Volume is low, indicating a lack of strong buyer or seller activity.
Stochastic Oscillator is in the oversold zone, which could signal a potential upward reversal.
4. Possible Scenarios
Bullish Scenario: If the price holds above 0.1047 and breaks 0.1170 with volume confirmation, it could move towards 0.1632–0.1748.
Bearish Scenario: If 0.1047 is broken downward, the price could drop to 0.0805 or lower.
5. Conclusions and Strategy
If you want to enter, it's safer to wait for a confirmed breakout above 0.1170 with volume confirmation.
If 0.1047 support is broken downward, it’s better to look for buy opportunities near 0.0805.
For a long-term uptrend, the price needs to break at least 0.1748.
Depending on your trading style, you can consider entering near 0.1047 with a tight stop-loss or waiting for a confirmed breakout before entering a trade.
1. Trend and Structure
Overall, the price is in a long-term downtrend after peaking in 2021.
There is a possible ascending triangle or accumulation zone, where the lower support line is gradually rising.
2. Support and Resistance Levels
Support: ~0.1047 (current zone), ~0.0805 (lower support).
Resistance: ~0.1170, ~0.1632, ~0.1748 (key levels the price needs to break for an uptrend).
3. Volume and Indicators
Volume is low, indicating a lack of strong buyer or seller activity.
Stochastic Oscillator is in the oversold zone, which could signal a potential upward reversal.
4. Possible Scenarios
Bullish Scenario: If the price holds above 0.1047 and breaks 0.1170 with volume confirmation, it could move towards 0.1632–0.1748.
Bearish Scenario: If 0.1047 is broken downward, the price could drop to 0.0805 or lower.
5. Conclusions and Strategy
If you want to enter, it's safer to wait for a confirmed breakout above 0.1170 with volume confirmation.
If 0.1047 support is broken downward, it’s better to look for buy opportunities near 0.0805.
For a long-term uptrend, the price needs to break at least 0.1748.
Depending on your trading style, you can consider entering near 0.1047 with a tight stop-loss or waiting for a confirmed breakout before entering a trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.