GRT was another big gainer in Thursday’s session, as it moved to a multi-week high, whilst CAKE rebounded after recent losses.Newly formed GMT was undoubtedly today’s top gainer, climbing by over 20%, however due to its infancy in the markets, there is not enough history to support a true technical view of its price movement.
GRT/USD rose to an intraday high of $0.4084 during today’s session, which saw its price up by over 11% earlier in the day.This peak follows on from a low of $0.3472 on Wednesday, which was close to its long-term support level of $0.3410. GRT is now trading at $0.3779, whilst the 14-day RSI is also hovering below its own ceiling of 50.13, which could be the main obstacle preventing price from climbing back above $0.4000.CAKE rebounded from a recent multi-week low on Thursday, as bulls seemed to have re-entered, following Tuesday’s engulfing bear candle.
This floor was at $7.40, and comes after a marginal breakout, which took price to a one-month low of $7.38 on Wednesday.Since then, CAKE now looks to be heading for resistance of $9.40, as prices continue to consolidate after a month of market uncertainty.
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