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.
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GTH has been making exciting moves lately. The beginning of GTH’s structure is a falling wedge, which surprisingly had only a time push out and no breakout nor breakdown. This time push is an uncommon scenario, but this shows a phase of accumulation. The current area where GTH is just moving sideways gives it the possibility to break out soon and even stronger than it would have done after the steep falling wedge. Looking at the technical indicator RSI, one can see rising and increasing, showing incredible strength and a bullish divergence. Such bullish divergence at a very stale and sideways moving price is mostly a powerful catalyst for strong price movements.
BAT has been moving in a relatively weak manner lately. It had the chance to break out after touching the key-area of support, yet it failed the breakout attempt and broke down following it. This breakdown is inherently bearish and can cause many problems for BAT. The only last chance would be that this turns out to be a fake-out.
Looking at technical indicators, one can identify a sell-condition on the MKAST algorithm, which is very understandable. Especially since the MKAST Index had broken below its ALMA a few days ago. Following the line of indicators, the volume is spiking in sell-volume and the buy-volume is lacking. This lack of buyvolume indeed supports instead of the sellers.
Golem has been suffering from market conditions lately as well. It has been moving slowly and is currently breaking down into the key-area of support, the “last hope” for GNT. Should this support break and not hold the price stable or even show a minor reaction, there might be many more downsides for GNT. Looking at technical indicators, the MKAST Algorithm has just switched into a sell-condition, which is understandable and clear for anyone watching the conditions.
The MKAST Index is at 1/15 points, which is quite low and near an oversold condition. This low index point can be especially interesting since GNT is testing its support for the second tie only, and with the nearly oversold conditions, this could turn out bullish. Moreover, the volume is decreasing and not very much supporting the ongoing selling.
GTH is leading the race with a clear advantage and the highest opportunity for experienced traders. It is in what looks like an accumulation phase and might see some strong breakout soon. Following right behind is GNT, which is currently re-testing support and might have good chances for a quick bounce from there, especially in nearly oversold conditions. Finally, BAT is struggling with the current conditions and cannot hold the current levels of support. These bearish conditions are a significant issue for BAT. Should it not hold the current levels and return the above support, it will see a further downside.
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