GRTUSD broke above major Resistance. Potential uptrend ahead.

The Graph (GRTUSD) broke today above the Lower Highs trend-line that has been in effect since the August 08 2022 High. Supported by the 1D MA50 (blue trend-line), GRT is now aiming at the 0.07725 - 0.0750 Resistance Zone (made on the November 23 - December 10 Highs).

With the 1D RSI on Higher Lows since October 20, it is highly likely that this will be a sustainable bullish break-out. However the RSI has has clear highs to sell, near the 80.000 overbought barrier, where price tops where formed.

As a result, we are looking for levels to peak and the pull-back and as shown on this chart, the Fibonacci retracement levels align perfectly with previous Support and Resistance levels since the August downtrend started.

As a result the next level to watch is the 1D MA200 (orange trend-line) on the 0.382 Fib, with a major Resistance cluster being on the 0.5 Fib.


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