$0.79477 -4.32%
GRS · 209w

Weekly GRS Market Thread - 7/24

Hi everyone! This is late in coming, so sorry about that. High level: * # of Addresses: 47.578 (0.4% decrease over last week) * Outstanding Coins: 68.014.527 * Market Cap: $11,63 million USD (2.8% decrease over last week) * Current Bid-Ask Value: 33,25 BTC * Bittrex GRS wallet size: 16,532 million (2% increase over last week) Market Status: * Downward pressure pushed hard over the weekend, but we appear to be in a decent momentum shift right. Volatility is increasing, but we're staying within expected limits. * Bid-Ask volume is in a healthy balance right now, so I expect trading to increase value or trade flat in the short-term. If Bid increases significantly expect a continued rise. Resistance: * ,00006250 - This is our first resistance and will be very hard-pressed to push past it. Expect an increase to ~,00006400-,00006500 in the next 1-2 hours. If we break this resistance, we'll need to see continued buying pressure, otherwise we'll continue to dip below it. * ,00006700-6800 - There is a lot of resistance in this area with a couple cliffs that need to fall. Based on previous market behavior, expect a timid approach with rises and dips once we hit the first few cliffs. Trader mentality will need to be positive or we'll trade flat here for a while (imo) * ,00009000 - Big whale sitting around here. As we approach this level I will re-assess. * We're in a rapid rise after a brutal sell-off. Expect corrections to occur and watch for signs of support failing if we push past resistance and then fall. Support: * ,00005700 - Good bid volume here to keep the market up. * ,00005600 - This number is rising every ~30 minutes and we want to stay above it during the upswing. If we break through it then we either rebound above or downward pressure might start again. * ,00004900 * Bid volume has been helping the support levels rise consistently. Keep an eye on the volume and the supports for any possible downward movement outside of expected corrections. Happy tradin...
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