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GRAPH – ALTCOIN CHART ANALYSIS

 


The Graph (GRT) has been behaving as we discussed since our last analysis. Since then, however, little has changed in the course.


Right now we're trading at around $0.099. After closing the inefficiency on the downside in the last analysis, we pumped towards monthly resistance P and were rejected there.


This monthly resistance is now ranged with our lower support zone. We were only able to leave this once briefly and with a lot of trading volume. So the range applies first.


Unfortunately, on the daily chart, we still have the Daily EMA Ribbons in front of us, which are pushing us down. However, we must break this in order to generate bullish momentum.


If these break, we could get our last high at around USD 0.1350. There's a lot of liquidity there. From here a retest of the range would be important.


On the other hand, if we fail to break this resistance, we could move to a new low and thus also break the range for a short time. However, we should not linger there too long.

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