Following the previous idea on Groestlcoin, it has reached the upside target, which was 161.8% Fibonacci retracement applied through the November high. But GRS/USD managed to break above the $1.9 resistance and currently it is acting as a support, while 4h candle failed to close below after producing a strong spike down.
The $1.9 support could be just another buying opportunity for Groestlcoin investors as it looks like the uptrend is likely to continue towards next Fibonacci retracement levels. First strong resistance is at 261.8%, that is $2.8. Second resistance is at $3.4, which is 237.2% Fibonacci retracement level.
The overall trend is very bullish and Groestlcoing could be rising fast. The only way where trend could turn bearish is if it breaks below the 200 Moving Average.