GRT Technical Analysis Jan 29

GRT under pressure around 0.04$; intraday 0.0341 support critical, could accelerate on downside break. For upside, 0.0353 resistance must be broken.

Short-Term Market Outlook

GRT is currently trading at the 0.04$ level and showing a negative picture with a 2.97% decline over the last 24 hours. The daily range is stuck between 0.03$-0.04$, while volume remains low at 9.53M$. Short-term indicators are predominantly bearish: RSI at 40.84 is in neutral territory but momentum is weak, MACD shows a negative histogram, and Supertrend gives a bear signal. Price positioned below EMA20 (0.04$) confirms the short-term bearish structure. Downtrend dominates for the next 24-48 hours; strong volume is required for a quick recovery. 9 strong levels detected across multi-timeframes (1D/3D/1W): Supports are weighted, but overall trend is downward. News flow is calm, volatility low, but BTC movements will be decisive.

Intraday Critical Levels

Nearby Support Zones

Immediate support at 0.0341$ (score: 63/100), a strong area from the 1D timeframe. Break below increases risk of quick drop under 0.03$, with 0.032$ area to watch for invalidation. Lower supports at 0.0292$ under radar as downside target.

Nearby Resistance Zones

First resistance at 0.0353$ (score: 69/100), followed immediately by 0.0374$ (score: 65/100). Supertrend resistance also forms upper ceiling at 0.04$. Volume increase required to break these levels, otherwise rejection expected.

Momentum and Speed Analysis

Short-term momentum fully under bear control: MACD histogram expanding negatively, RSI dropping below 40 could trigger oversold approach but currently weak. Supertrend bear signal pulling price down, staying below EMA20 reinforces downtrend. Speed analysis shows low intraday volatility, limited scalp opportunities within range. For upside acceleration, RSI 50+ and MACD zero line crossover needed; downside 0.0341 break could create momentum burst. 4-hour chart dominated by bearish continuation signals, traders should focus on quick invalidations (e.g., hold above 0.0353).

Short-Term Scenarios

Upside Scenario

Clear break and close above 0.0353$ resistance could test 0.0374$, upside target 0.0386$ (score:39). Trigger: Volume increase and BTC recovery to 88.7k$. Invalidation: Drop below 0.0341$, usable as stop level. This scenario low probability (~30%), but watch for quick scalps.

Downside Scenario

Break of 0.0341$ support likely leads to acceleration below 0.03$, main downside target 0.0292$. Trigger: BTC slip below 87.4k$ and no MACD divergence. Invalidation: Hold above 0.0353$. This scenario high probability (70%), offers risky short opportunities for active traders but capital management critical.

Bitcoin Correlation

GRT highly correlated with BTC (%0.85+), BTC downtrend (88k$, -1.47%) increasing pressure on altcoins. BTC Supertrend bearish, breaks of 87.441$ and 86.583$ supports would accelerate GRT 0.0341$ test. Conversely, BTC break above 88.691$ resistance gives GRT breathing room (0.0353$ retry). Key BTC levels: Supports 87.441$-86.583$, resistances 88.691$-89.319$. BTC.D dominance rise crushes alts, prioritize BTC for GRT Spot Analysis and GRT Futures Analysis.

Daily Summary and Watch Points

Today’s main watch: 0.0341$ support and 0.0353$ resistance. Downside scenario favored, BTC below 87k$ as trigger. Scalp zone: 0.0341-0.0353 range, be ready for breakouts. Risk management: Limit positions to 1-2% risk, keep invalidations tight (e.g., 0.0340 stop on longs). Short-term trading exposed to high volatility, do not exceed 5% of capital. If MTF levels unchanged tomorrow, trend continues.