The Graph Price Analysis: Will GRT Sustain at the Upper Level of Consolidation Phase?

• The Graph price is trying to sustain at the upper price range of the consolidation phase over the daily price chart.
• GRT crypto is trading below 20, 50, 100, and 200-day Daily Moving averages.
• The pair of GRT/BTC is at 0.000005312 BTC with an intraday drop of 1.17%.

Since May 15th, the graph’s price has been stable within a band that is restricted to a range. The cryptocurrency market saw panic selling as a result of this existential crisis. Investors are attempting to hold onto their own assets despite the cryptocurrency’s tremendous volatility. One of the digital currencies, GRT, teeters at a record low and is going through an existential crisis. Investors in cryptocurrencies need to be as rock-solid as those with diamond hands during this tumultuous time. The GRT cryptocurrency is currently going upward toward the higher price range of the consolidation phase, as seen on the daily price chart. The token needs to maintain its present velocity in order to complete its breakout.

The graph price is now CMP at $0.114, down 2.50% in terms of market value from the previous day. During the intraday trading session, there was a 15.02% decline in trading volume. This may indicate that bears are growing increasingly interested in the bitcoin deal involving GRT. The market cap to volume ratio is 0.17.

The price of the GRT coin has significantly climbed on the daily price chart. The cryptocurrency asset has recovered and is now in a period of consolidation; it will come out of this phase in 2021. The GRT coin price needs to draw in more buyers if it is to rise back to the higher price range of the consolidation era. For GRT currency to cross the daily chart, the volume change, which is now minimal, needs to increase.

GRT Still Needs to Draw More Buyers!

The Graph price is rising swiftly on the daily price chart. GRT crypto needs to attract more buyers if it is to exit the consolidation phase. Technical indicators show the GRT coin’s falling velocity.

The Relative Strength Index (RSI) shows the GRT currency’s sideways velocity (RSI). The RSI is at 45 and is unable to show a direction shift. The MACD shows a favorable momentum for the GRT currency. The MACD line is advancing toward the signal line, though it is lower, in anticipation of a positive crossover. GRT stockholders should keep an eye on the daily chart for any changes in trends.

Conclusion

Since May 15th, the graph’s price has been stable within a band that is restricted to a range. The cryptocurrency market saw panic selling as a result of this existential crisis. Investors are attempting to hold onto their own assets despite the cryptocurrency’s tremendous volatility. One of the digital currencies, GRT, teeters at a record low and is going through an existential crisis. Investors in cryptocurrencies need to be as rock-solid as those with diamond hands during this tumultuous time. The GRT coin price needs to draw in more buyers if it is to rise back to the higher price range of the consolidation era. Technical indicators show the GRT coin’s falling velocity. The MACD line is advancing toward the signal line, though it is lower, in anticipation of a positive crossover. GRT stockholders should keep an eye on the daily chart for any changes in trends.

Technical Levels 

Support Level: $0.100and $0.095

Resistance Level: $0.12 and $0.13

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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