GRT, which saw prices recover after recent falls, was the largest gainer in crypto markets on Tuesday. ZEC was also higher on the day, climbing by as much as 5%, while DOGE extended Monday’s gains.
GRT stands for Graph
GRT easily outperformed its support levels on Tuesday to gain the most in crypto markets.
Following a low of $0.3393 to start the week, GRT/USD rallied to a peak of $0.4024 earlier in today’s session.
GRT surged from $0.3550 to its floor on Monday. This was after a false breakout that occurred on Monday. The price fell six weeks.
GRT has now moved away from the low and is hovering just slightly below its $0.4020 long-term resistance, following its breakout attempt.
This comes as traders will likely have closed out positions near the price ceiling, in order to secure some of this session’s gains.
GRT trades at a 16-day peak, while the 14 day RSI tracks at a resistance at 50.80.
We could see the GRT/USD heading towards $0.5000 if relative strength goes beyond that point.
Zcash (ZEC).
ZEC was higher for the majority of today’s session, as prices rallied back towards the long-term resistance level.
ZEC/USD reached an intraday peak of $170.06 on Tuesday. This was just 24 hours after its previous trading high at $151.70.
Today’s move saw prices come close to the resistance of $170.30, however, sold off as bears re-entered the market at this ceiling.
This area has seen bearish activity at high levels in the past. As a result, the red candlestick formed following the higher high.
The RSI has fallen back into oversold territory and currently tracks at 47 after having traded above 54 just two days before.
Now traders wait to see if all of today’s gains will be lost, or if prices could stabilize at $153.00, which appears to be a floor.
If bearish momentum continues, could we possibly see $138.00 as a lower floor? We would love to hear your comments.
Credits for the imageShutterstock. Pixabay. Wiki Commons
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