Top Analyst Points to Best Levels to Buy The Graph (GRT) as Price Stabilizes; Arweave (AR) to Continue Spike If This Support Holds
In an update, Rekt Capital’s has highlighted developments for two cryptocurrencies: The Graph (GRT) and Arweave (AR) in his latest newsletter. GRT experienced a substantial rally but faces consolidation. Meanwhile, AR broke its Macro Downtrend and aims for a new uptrend. Both tokens are at critical junctures, poised for potential moves.
What you'll learn 👉
The Graph Price Analysis
Rekt Capital’s analysis of The Graph (GRT) showed a +146% rally from its Range Low to Range High. In November 2023, GRT was in an Ascending Triangle formation, signaling a potential breakout. The breakout led to a +77% surge, bringing the price closer to the $0.37 resistance level. However, after reaching the Range High, GRT faced resistance and subsequently dropped in value.
Currently, GRT is consolidating between $0.15 and $0.37. For any move, GRT needs to reclaim the Range High at $0.3745 as new support. Conversely, a drop closer to the Range Low at $0.1532 might be an alternative entry point. Despite a +30% rebound from its mid-range level of $0.23, no meaningful trend shift has occurred. GRT remains in the upper half of its macro range, with key levels to watch for future movements.
Losing support at the mid-range of $0.23 could push GRT towards the Range Low of $0.15. Conversely, a successful reclaim of the Range High at $0.37 would be critical for a bullish breakout. Traders should monitor these levels for potential opportunities.
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Show more +Arweave Price Technical Analysis
Arweave (AR) has shown resilience by breaking its Macro Downtrend and entering a new Macro Uptrend. Previously, AR struggled near its Macro Downtrend but managed to reclaim a historical demand area as new support. This successful retest at $4.010 confirmed a breakout, propelling AR into a continuation of its uptrend.
Currently, AR is targeting the black-black range of $43-$59. Any dips towards the Range Low of $43 should be viewed as potential retests. If AR successfully holds this level, it could revisit its previous highs. The confluence of support levels around $43 and the Macro Downtrend indicates a strong foundation for future growth.
Reclaiming and maintaining support at the $43 level would be crucial for AR’s upward trajectory. A successful retest would likely enable AR to move towards the Range High over time, potentially reaching new all-time highs. Traders should keep an eye on these levels for potential entry points and confirmation of the uptrend.
Conclusion
GRT and AR are at pivotal points in their respective journeys. GRT’s future movement hinges on reclaiming key resistance levels, while AR’s breakout from its Macro Downtrend sets the stage for potential long-term gains. Both tokens offer opportunities, but careful monitoring of critical support and resistance levels is essential for informed trading decisions.
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