Groestlcoin Technical Analysis (GRS): The One To Watch, recovers 100% in 24 hours

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Groestlcoin is a seriously hot cryptocurrency today, rising above 100% this morning and clinging to its earnings well without much correction. At the moment the asset n. 108 is currently up 71.08% relative to the BTC trading pair, with an impressive trading volume of $ 41 million, which is significantly higher than a number of top 20 coins including Binance Coin (BNB), Monero (XMR) and IOTA (MIOTA).

Groestlcoin is a cryptocurrency multiutility that boasts a number of blockchain-based features including; TOR and VPN have supported private transactions, virtually zero commissions, resistance to ASIC mining, major development releases every three months and claims to be the first currency to activate SegWit.

Looking at his history of price action over the past 12 months, he can also see that his investor community is also unique. Assets have shown steady growth over the past 12 months, despite the bear markets we have witnessed so far, showing a good quality community that HODL is able to face when the market depreciates. This is a promising sign that investors believe in the project and are not primarily interested in making quick gains, which hinders the price progress of many cryptocurrencies.

While the rest of the scrambled market begins to recover, can we expect Groestlcoin to continue climbing, or should we expect a late correction to wipe out this morning's progress and send the resource back? Let's see what the chart tells us.

The Story So Far

Immersion in the 1D GRS / BTC table we can see that in the last 12 months GRS has been too inclined to explosive bursts that typically start from strong base support ascending. I would not call them "pump and dump" cycles to say, since strong uptrend usually takes a few months to correct, compared to other coins like Bitcoin Diamond that can go up and down dramatically during intraday trading.

Another interesting pattern to note as the EMA 50 has interacted with the EMA 200 and 500 in the last year. In the analysis, you can see that the 50 EMA (blue) has never dropped below the 500 EMA and only briefly crosses the 200 EMA before it enters another bullish cycle. Right now, you can see that this happened again, and broke bullish just as the 50 EMA fell below the 200 EMA line.

The Story Now

Over 2 hours of candles, GRS seems to continue to hold on to its short-term gains with a series of promising signs shown on the indicators, including

  • A confirmed upside reversal on the Ichimoku indicator with a positive T / K crossover and a support Kumo extending in front of the price action
  • RSI returns to the index channel after briefly bursting into the overbought region.
  • CMF shows a constant level of buying pressure above the zero line,
  • MACD is still high above the signal line, but there was a slight deviation in buying the momentum in the last The 2-hour candle and the 12MA begin to fraternize with the 26MA;
  • C & # 39; is also a strong bullish signal from the "golden crossover" between the EMA 50/200 lines.

Groestlcoin has just corrected -17% in the above-mentioned support region between the 9.017 and 9.179 Sats area, but looking at these indicators, it could be a sign that the resource is configuring another wave of impulses.

Groestlcoin (GRS) Price Targets

All price targets are set from the current support to 9,091 Sats.

Target Price 1: First bull price target will be a new impetus towards the previous sign reached 10.435 Sats (14.79% ROI), which was a & # 39, area of ​​historical resistance for the GRS in the past.

Target 2 price: From here, the asset will probably correct the psychological support area of ​​less than 10,000 Sats (10% ROI / -4.79% less than the first target)

Price Target 3: Finally we would like to see a bullish continuation break the bull's top goal above 11.401 Sats (25.42% overall ROI).

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