We will be conducting a macro analysis between the three competitors GTH, BAT, and GNT while analyzing their technical status and comparing all three together in the end.
GTH has been moving intensely and remarkably since the listing on UniSwap. It has many sudden pumps always when it is hitting the downtrend support and creating a bullish divergence. Looking at GTH's overall market structure, one can identify a falling wedge, coming to an end of the tip.
Looking at technical indicators, the volume is deficient and shows sellers' low interest so far, yet buyers still need to step in and start the reversal.
Stochastic and ordinary RSI is down trending and hitting lows again. It seems though the RSI is starting to turn up, which would be a strong and remarkable higher low, which is a combination of the continuous lower lows on the chart, it would create a robust bullish divergence. Such divergence would make a powerful opportunity in a very close time.
BAT has a unique chart, with a healthy pup to the highs and then an extreme and dull retrace to the area of support. Such is always intriguing since a retrace is good, but a whole 100% reversal is not the most significant sign of strength. Nevertheless, it is currently at the key-area of support. It forms a price action pattern of a flat falling wedge, which can be misinterpreted as a descending triangle.
A flat falling wedge is a slightly bullish reversal pattern; the descending triangle would be a more robust bearish pattern.
Looking at technical indicators, the MKAST Algorithm is still showing a sell condition since it has not broken the market structure yet. Even looking at the LenLen ribbon, it is very flat and unable to show strength here.
The MKAST index is at 3 out of 15 points, it is close to being oversold and can show a strong reversal soon, yet should any reversal attempt fail, it will fall further down.
GNT has been moving very impressively and has a powerful pump and strong uptrend behind itself. This pump Is currently retracing on an HTF bullish market structure, which can be identified as a bull-flag.
The volume is shallow in this structure and gives it the needed confluence. The price just got rejected at the previous key-area of resistance and moves downwards to the next key-levels of support.
Looking at technical indicators, one can see that MAKST Algorithm shows a slightly bullish condition since GNT was trying to break through resistance, yet it is losing on strength. A re-test of the LenLen Ribbon is possible, yet it is not as crucial as keeping and holding the key-level support.
All in all, looking at all three competitors, there is an apparent line between all of them.
GTH has the highest upside potential for an experienced trader. It forms an HTF falling wedge, is almost at the tip, and becomes oversold with bullish divergences. The break-out following the progress and quality of the project is virtually inevitable.
Following the line, BAT has reversed quite a lot but is currently testing the key-area of support and having a strong chance of a solid bounce at these levels since it is one of the first re-tests since the strong pump behind it.
Finally, GNT it's not very much an active or appealing trade right here. Undoubtedly, the HTF bull-flag is impressive, but it is not going to break-out anytime soon. Therefore GNT is something upcoming on the watchlist and one of the last of the three competitors.
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