GRT Technical Analysis: Divergence Foretells Falling Channel Breakout

GRT coin price rebounds from the $0.325 weekly support, registering a 9.5% gain. Can the renewed bullish momentum breach the falling channel pattern? Key technical points: GRT coin price forms a daily-morning star pattern at $0.325 support The 50-day EMA provides dynamic resistance The 24-hour trading volume in the GRT is $213 Million, indicating a 50% rise. Past Performance of GRT The Graph(GRT) has been correcting inside a falling wedge pattern for the past three months. However, The recent bear cycle was initiated during Mid-February when the price turned down from the shared resistance of the descending trendline and $0.5 resistance. This correction rally tumbled the altcoin by 32.5%, slipping it to the $0.33 mark. Source-Tradingview GRT Technical Analysis The GRT buyers tried to bounce back from the $0.32 mark and breach the immediate resistance of $0.39. However, the sellers mounted a vigorous defense at this level and dumped the coin price back to the low swing support(0.32). Nevertheless, the altcoin rebounded from this support with a morning star pattern, suggesting the traders accumulate at this dip. The downsloping crucial EMAs (20, 50, 100, and 200) indicate the sellers have the upper hand in a bearish sequence. Moreover, the 50-day EMA acts as a dynamic resistance restraining bullish activity. RSI Indicator: The RSI slope shows an evident bullish divergence concerning the last three swing lows. This indicates a be...