I believe we could see GRT trade sideways until the end of the month. I think between the blue lines was GRT's intended movement but when it went parabolic it broke too far out of that channel. Its movement over the last couple of weeks tells me that it could continue like this until one of three possibilities.
1: GRT moves up to $1.86 in the next day or 2 then falling back to its strongest support at $1.68 then breaking out of the flag to test $2.45 on March 27th returning to its intended channel.
2: GRT continues to trade sideways for the rest of the month and explodes to $2.55 on April Fools Day again returning to its intended channel
3: GRT RSI is so cooled off that by the end of the month it just explodes from boredom back out of its intended channel to $3.00-$3.20 which would mean another huge fall and log period of consolidation.
Personally I'd prefer healthy price action with less consolidation time and an eventual 200%-300% gain in less time than it would take to get that with a quick 100% gain explosion out of the intended channel again with another very long consolidation time following it.
1: GRT moves up to $1.86 in the next day or 2 then falling back to its strongest support at $1.68 then breaking out of the flag to test $2.45 on March 27th returning to its intended channel.
2: GRT continues to trade sideways for the rest of the month and explodes to $2.55 on April Fools Day again returning to its intended channel
3: GRT RSI is so cooled off that by the end of the month it just explodes from boredom back out of its intended channel to $3.00-$3.20 which would mean another huge fall and log period of consolidation.
Personally I'd prefer healthy price action with less consolidation time and an eventual 200%-300% gain in less time than it would take to get that with a quick 100% gain explosion out of the intended channel again with another very long consolidation time following it.
Comment:
GRT made an awesome recovery from that hellacious dip from the BTC price correction but it broke out of the flag now resting around $1.79-$1.80. If it can close the current daily candle above that flag then we should see a drive to $2.48-$2.50 price area by tuesday/wednesday. If not then I believe we'll see a retrace to the $1.66 support trading sideways until around Friday April 1st and rally over the weekend. If we can bust straight through the resistance around $2.20. I feel its a high probability we see $4-$4.50 over the next few weeks since GRT has been lagging behind the entire month of March. If my prediction on BTC going to 78k-80k by the 2nd to last week of April then I believe we could even see an ATH of $5-$6!!