GRT Technical Analysis: Falling Wedge Brings a Possible Reversal Spot

The long-coming correction phase in GRT coin price forms a falling wedge pattern teasing a possible bullish breakout. Is The Trend Reversal Possible? GRT is the first-ever provider of instant cryptocurrency-backed loans, and it intends to solve inefficiencies in the lending market. The automated lending process makes use of intelligent contracts as well as an Oracle that runs on the Ethereum blockchain to manage loans. When a customer transfers money to a GRT-controlled account, an oracle is able to establish the loan, and the borrower receives the funds immediately. If the user makes a payment to pay back this loan system returns the cryptocurrency and registers each transaction in the blockchain. Let us move ahead to read about The Graph technical analysis. Past Performance of GRT GRT coin price shows a downfall of more than 10% in the last week resulting in the reversal from $0.60 to $0.50. The mid-term price action shows a falling wedge pattern in the daily chart, with the price resting close to the support trendline. Moreover, the morning star pattern forming near the support trendline indicates the start of a bullish reversal. GRT/USD Daily Chart GRT Technical Analysis The GRT coin price attempts to make a bullish candle to complete the morning star pattern in the daily chart. Moreover, the constant lower price rejection evident by the long wicks forming near the support trendline reflects underlying bullish attempts. Th...