Market & Ticker: The GRAPH - GRT/USDT
Date: 07/02/2023
Horizon / Timing: Mid-term / 1 to 3 months
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Ocean is still showing an extremely high bullish momentum at current level calling for a larger upside to follow. Don't miss the actual AI/ALGO Coin hype and jump into GRT – potential is at 0,39 on the near-term basis
Scenario:
At the current level, we expect a further bullish move toward 0,22 at first and in extensions 0,39 (+126%) before a further extension towards 0,62 (+260%) as long as 0,0980 remains a valid tactical support in Daily close.
Technical Key Elements:
- The long-term trend analysis shows potential towards 0,62 (+260%) before 1,32 (+660%) as long as 0,0250 (-85%) Strategic support remains valid in weekly close.
- The RSI indicator is progressing in overbought area without divergence
- The Moving average crossed to the upside: Double “Golden” Cross
- The Fibonacci key support is adjusted at 0,32 as tactical support while the Elliot wave shows upside potential towards 0,80 in wave (v)
| Trade Idea conclusion: Buy - Conviction: |  | | | (High) |
Target 2: 0,39 (+126%)
Target 1: 0,22 (+28%)
Buy: add in dip area 0,16/0,1330
Stop: 0,0,0980 (-40%)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
