THE GRAPH – ALTCOIN CHART ANALYSIS

The Graph (GRT) is still in a clearly visible downtrend. This continues to be confirmed with declining volume, lower highs and lower lows.

Right now we're trading at around $0.09. Most recently, we were rejected at the 200-SMA (last 200 moving averages/purple). This resistance is crucial for an uptrend.

So we can summarize in the short term, as long as we don't break through this, we are still in a downtrend and have to expect lower prices.

However, on the daily chart, a bullish divergence is slowly but surely building up in the RSI. This could ensure the final trend reversal if the above-mentioned 200-SMA breaks out.

However, for this move we also need a strongly increasing trading volume. This is also in short supply on the larger timeframes and needs to increase significantly for a breakout.

The chances of a final dip in the $0.08 area are significantly higher. Here we could get the necessary liquidity for a trend reversal .

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