The Graph Price Prediction: Is GRT Facing a Volatile Market?

The current price of the GRT is $0.1229 with a gain of 0.90% during the intraday trading session.
The pair of GRT/BTC is trading at 0.000005033 BTC with a drop of 0.73% in the last 24 hours.
The GRT is trading below the 20 Days of Daily Moving Average and is above the 50,100,200 days of Exponential Moving Average.

The Graph’s price fluctuations make it challenging for investors to decide whether to proceed, it appears that GRT buyers are unsure. Both the bulls and the bears are engaged in a combative struggle. The bears are withdrawing their punches while the bulls are working hard to drive up the price. Investors are keenly awaiting any changes in the coin’s price. Check the direction that the coin’s price will go.

The Graph’s price is currently around $0.1229, having gone up by about 0.90% overall during the daily trading period. The GRT/BTC pair is currently cruising at 0.000005033 BTC with a drop of 0.73% in the last 24 hours. The primary support level of $0.135 appears to be the price target for GRT. The price of the GRT will be simple for the bears to influence if the bulls don’t put in a lot of effort. This might push the price up to the $0.113 secondary support level.

The bulls may gain control of the price of the currency and push it up to the primary resistance level of $0.162 if they develop better strategies to defeat the bears. and if the animals weren’t awake. Alternatively, if the bears’ attempt to manipulate the price is unsuccessful, the price may rise to the secondary resistance level of $0.184. To move the price of GRT over their preferred zones, both bulls and bears must exert a lot of force.

In the course of the intraday trading period, the GRT’s volume dropped by 10.68%. The volume’s continued drop shows that the short-selling pressure is increasing. The market cap-to-volume ratio is 0.0314. In order to achieve their objectives, the sellers must put in more effort. For investors, the fact that purchasing is growing may be a comfort. Investors could choose to shift to either side. Additionally, this will present a chance for new buyers to join the market.

The Technical Analysis of GRT

The technical indicator shows the following: The buyers must buckle under to neutralize the RSI of the GRT because the relative strength indicator is in the oversold region and the selling is intensifying. RSI is currently 49.50, which is lower than usual. The RSI on average is 50.00. The GRT is trading below the 20 Days of Daily Moving Average and is above the 50,100,200 days of Exponential Moving Average. This might cause the coin’s worth to change further. The MACD and MACD signal have intersected giving a negative crossover.

Conclusion

The current price of The Graph is approximately $0.1229, which has increased by roughly 0.90% during the day’s trading period. There is currently a battle between bullish and bearish investors. The trading volume has decreased, indicating a lack of confidence in the GRT token among traders. Additionally, the oversold region of the relative strength indicator (RSI) and the intensifying selling, along with the negative crossover of the Moving Average Convergence Divergence (MACD) on the daily trading chart, suggest a negative trend for the GRT.

Technical Levels

Support Levels: $0.135 and $0.113

Resistance Levels: $0.162 and $0.184

Disclaimer

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