GRT Weekly Analysis Feb 23

GRT ended the week with a -3.92% loss in a narrow range (around $0.03); the main trend is downward but a hidden reversal signal is forming in momentum with the MACD positive histogram. For position traders, the accumulation phase should be monitored, carrying the risk of breaking the critical support at $0.0254.

GRT in the Weekly Market Summary

GRT is experiencing squeezed consolidation at the $0.03 level on a weekly basis, with the trading range limited to $0.03 – $0.03. Volume profile remained low at $7.35M, indicating caution among market participants. Primary trend confirmed as downtrend, RSI at 37.46 approaching oversold while MACD shows bullish divergence signals with a positive histogram. Short-term moving averages (EMA20 below $0.03) maintain the bearish filter. In the big picture, GRT is trading in a long-term descending channel but strong support clusters in multi-timeframe confluences offer accumulation potential. Check spot data for detailed GRT spot analysis.

Trend Structure and Market Phases

Long-Term Trend Analysis

On higher timeframes (1W/1M), GRT maintains the downtrend structure ongoing since the 2021 peaks; market structure clarified with lower highs and lower lows. Trend filter bearish, with resistance at $0.03 forming a strong ceiling. However, the positive weekly MACD histogram signals weakening momentum and an approach to a potential trend inflection point. Market structure requires the $0.0254 support to hold for the downtrend to remain intact – a breakdown would expect downside acceleration. In the long-term perspective, BTC dominance decline will play a critical role for GRT’s transition to accumulation phase in the macro cycle.

Accumulation/Distribution Analysis

Volume profile and price action show accumulation phase characteristics around $0.0254: low-volume tests and quick rejections imply smart money accumulation. Distribution patterns are not yet dominant, as RSI divergence shows selling exhaustion. Confluence of 9 strong levels (1D:1S/1R, 3D:1S/2R, 1W:2S/2R) positions the $0.0267-$0.03 band as a ledge carrying distribution risk. Market phase in transition; accumulation confirmation requires volume spike and higher low formation. In this context, GRT’s movement can be said to align with Wyckoff accumulation schematics.

Multi-Timeframe Confluence

Daily Chart View

On the daily chart, GRT exhibits a bearish short-term trend below EMA20; RSI at 37.46 in neutral-bearish zone but divergence gives a bullish hint. Key support $0.0254 (score 64/100) tested with daily lows, resistance $0.0267 (79/100) a strong pivot. Price action in consolidation phase with narrow range – weekly alignment required for breakout confluence. Daily Supertrend bearish, but MACD crossover potential could form a reversal setup.

Weekly Chart View

In the weekly perspective, trend intact downtrend confirmed with lower highs. $0.03 resistance overlaps with weekly EMA20, breakout opens upside objective $0.0365 (score 50). Support clusters at $0.0254 and lower at $0.0127 define downside risk (score 22). Multi-TF confluence requires strategic patience with dominance of 2S/2R levels on 1W; aggressive positioning risky without volume confirmation.

Critical Decision Points

Key levels determining market direction: Major support $0.0254 (multi-TF confluence score 64/100) – hold signals bullish reversal, breakdown bearish continuation. Resistance $0.0267-$0.03 band (79/100), breakout triggers $0.0365 target. Inflection point $0.03; above shifts higher timeframe bullish structure, below accelerates downside. Strategic R/R: Upside $0.0365 / Downside $0.0127 = ~2.87:1 ratio, ideal for position sizing. Evaluate leverage risks with GRT futures market data.

Weekly Strategy Recommendation

Bullish Case

Long bias activates with closure above $0.0267: Initial target $0.03 breakout, extension $0.0365. Stop-loss tight below $0.0254 ($0.0245), R/R 2:1+. Scale-in with accumulation confirmation, trailing stop to EMA20. Confluence strengthens with BTC above $65,578.

Bearish Case

$0.0254 breakdown short opportunity: Target $0.0127, intermediate $0.02. Stop above $0.0270, R/R 3:1+. Monitor volume increase for downtrend resumption; signal for transition to distribution phase.

Bitcoin Correlation

GRT shows high correlation with BTC (~0.85); BTC downtrend ($64,754, -4.69%) and bearish Supertrend dominance create caution for altcoins. If BTC key supports $64,323 / $62,183 fail to hold, pressure on GRT $0.0254 increases. BTC resistances $65,578 / $68,200 breakout supports GRT upside – dominance decline accumulation opportunity for alts. In BTC below $60,025 scenario, GRT downside risk drops to $0.0127. Follow BTC context for GRT and other analyses.

Conclusion: Important Points for Next Week

Next week focus: $0.0254 support test and $0.0267 breakout attempt. Accumulation phase strengthens with MACD divergence confirmation, BTC hold at $64,323 could trigger altcoin rally. Measured exposure until trend intact; position traders wait patiently at key levels confluence. Monitor volume spikes and news catalysts.