Groestlcoin has reached an all-time high on the 1st of November, hitting $1.33. Since then it corrected down to $0.4 while losing to USD 70%. A $0.4 is a strong psychological support and it has been rejected for three consecutive times. After the last rejection price went higher breaking above the triangle pattern.

Currently, Groestlcoin has corrected down and is testing the uptrend trendline as well as 200 Moving Average. This could be a very good opportunity to buy GRS/USD, while risk rewards ratio is quite high. Price could go as high as $1.9 with a potential gain of almost 300%.

The $1.9 target is confirmed by two Fibonacci retracement levels. First is the 161.8% applied to the corrective wave from the all-time high. And second is 727.2% applied to the corrective wave after the triangle pattern breakout. Only the break and a daily close below $0.3 would invalidate bullish outlook.