https://hacked.com/wp-content/uploads/2017/12/Technical-Chart.jpg

Gridcoin Research has been struggling to stay above 0.000008 Bitcoin since it broke down that level on September 8 on Poloniex. Although the pair rallied and went as high as 0.00001147 on September 29, bears eventually flexed their muscles, and showed that they controlled the market. They sent Gridcoin Research down to 0.000004 on December 11.

The daily chart shows that the market has never broke support at 0.000004 since it went above that level in September 2015. Using the strong support level, bulls rallied on December 20. Currently, it seems that they are on a mission to take back 0.000008.

Technical analysis reveal that Gridcoin Research has created a bullish reversal pattern, and it is breaching 0.000008 resistance. The market is not in overbought territory, so it has plenty of room to make a move up. In addition, the pair is also coming out of a throwback after generating a new higher low at 0.00000656.

Strategy is to buy around 0.000008. A successful breakout at this level reverses the market’s downtrend, and gives us a target of 0.000012.

Daily Chart of Gridcoin Research/Bitcoin on Poloniex
https://hacked.com/wp-content/uploads/2017/12/GRC1D.png
As of this writing, the Gridcoin Research/Bitcoin pair is trading at 0.00000789 on Poloniex.

Source: [Hacked](https://hacked.com/trade-recommendation-gridcoin-research-bitcoin/)