The Graph Price Prediction: Where Can GRT Go After Wedge Breakout?

The Graph
  • The Graph is currently trading at a price of $0.1148 with an advance of 0.02% in the last 24 hours.
  • The current liquidity for the GRT is 1.87% ranking #115 as per CoinMarketCap.com.
  • The last 24 hour trading volume for The Graph is $45.07M resulting in decline of -39.48%.

The Graph is trading with a long/short ratio of 0.9066 with longs of $4.96K against shorts of $1.18K. This resulted in long liquidation of $132.61K against $32.02K.

By collecting and presenting data from blockchains, The Graph crypto provides a data management service for developers to use in their applications.

Fully diluted market cap for the GRT is $1,226,135,660 resulting in a total supply of 9,074,259,750 GRT. Also the circulating supply for the same is 9,074,260,094 resulting in an astonishing max supply of infinity. 

Market Structure:

The Graph Technical Analysis
  
        

The market was struggling to maintain itself at the higher levels as buyers did not show much interest which led to decline of GRT from the higher levels showing the presence of sellers in the market resulting in the formation of lower low structure which led to a falling wedge channel and currently the market is trading inside the channel creating a dynamic range.

 The Graph Indicator Analysis

The Graph Indicator Analysis
Source: GRTUSD. COINBASE.1D by TradingView

EMA: 

The market has been declining from higher levels resulting in a bearish crossover which led to a downtrend but in the very recent times, as on 10 June 2023 the GRT made a recent swing low and started to rise resulting in contraction of 20,50-day exponential moving average and may can give bullish crossover if continue to push the price upwards.

RSI: 

The RSI for The Graph is reversing from the overbought level but is sustaining above the 50 level which indicates strength in the market, this often represents that we can get to see good momentum in the upcoming days.

Conclusion

Based upon the current chart we can see that the Exponential moving averages have contracted which can result in a bullish crossover and the RSI is also acting positive. The market is currently trading in a channel and with the support of indicators if the market breaks the channel on the upper side we can see a very good up move in the upcoming days.

Technical Levels

  • Support Level – 0.0939
  • Resistance Level – 0.1728 and 0.2099

Disclaimer

The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.

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