Is a Breakout Imminent for #GRT or Another Bull Trap is Ahead?Yello, Paradisers! Are we looking at a clean breakout setup that could send #GRT flying or is this the perfect trap to wipe out early bulls? Let's see the latest #GRTUSDT moves:
💎The daily chart on #GRTUSD is showing a perfectly formed descending channel, with price now hovering just above the lower boundary—a zone that has consistently held as strong descending support. After multiple rejections from the upper boundary and rebounds off the lower trendline, the price has now shown its first serious signs of momentum since bottoming in the strong demand zone
💎This structure has been in play since early May for #TheGraph, with each bounce from the support line giving temporary relief, only for the price to get slapped down at the descending resistance. But this most recent bounce looks different—it’s happening directly above a well-defined demand zone between $0.0668–$0.0700, a level that has historically attracted strong buyer interest.
💎A breakout above the descending resistance trendline, ideally with a strong daily close above $0.085–$0.090, would invalidate the bearish pressure and likely trigger a sharp leg up. The mid-term resistance sits around $0.1032, and clearing that would open the door to a retest of $0.1318, a level that previously acted as a strong rejection zone.
💎If the price fails to reclaim the descending channel and rolls over again, especially losing $0.0668 on a daily close, the bullish structure would be invalidated. That would shift focus toward the support zone at $0.053, and if that breaks, the next target becomes $0.0300—a brutal drop that would liquidate most late longs and signal deeper downside.
Stay disciplined. The next big opportunity will come to those who wait, not those who chase.
MyCryptoParadise
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