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The Graph price prediction shows the sustainability issues of GRT price at the neckline of an interesting pattern. - 2
GRT crypto is trading above 20 and 50-EMAs while trying to sustain at 100-days DMA to reach the 200-days daily moving average. - 3
The Graph cryptocurrency gained 64.98% year to date.
The Graph price prediction indicates the possibility of recovery as GRT cryptocurrency strives to break out of a particular pattern. However, to maintain this upward momentum, a greater influx of buyers is necessary.
It’s important to acknowledge that GRT crypto faced a turbulent path leading up to its current position within the descending triangle pattern, marked by fluctuations and volatility. Investors and traders should keep a close watch on market conditions and the extent of buyer support to assess the potential for GRT crypto’s future recovery.
The current price of The Graph is $0.0913, and it experienced a 0.11% reduction in its market capitalization intraday. Notably, there was an 8.76% increase in trading volume within the day, indicating active accumulation of GRT by buyers with the aim of potentially propelling it toward the upper boundary of the declining triangle pattern. The volume-to-market-cap ratio stood at 7.62%, reflecting the level of trading activity relative to GRT’s market capitalization.
The Graph Price Prediction: Technical Indications
The price forecast for The Graph price underscores the challenge faced by GRT crypto as it approaches the upper trendline within the descending triangle pattern. GRT is making efforts to stay above the lower trendline and push towards the higher price range. However, the rate at which buyers are accumulating falls short of the desired level and needs to increase.
Volume change is lower than average, and there is a need for growth during the intraday trading session. At the same time, GRT crypto is trading above the 20 and 50-EMAs as it strives to maintain its position relative to the 100-days DMA and reach the 200-days daily moving average.
The performance of The Graph price has been subject to fluctuations over various time frames. In the past week, it recorded an increase of approximately 14.11%, and within the last month, it saw a rise of 6.40%. However, over the course of three months, GRT price faced a significant decline of 18.10%, extending to 34.90% over the past six months.
Despite these variations, the year-to-date performance for The Graph cryptocurrency stands out with a substantial gain of about 64.98%. These dynamics highlight the ever-changing nature of GRT price movements within the cryptocurrency market.
The technical indicators displayed on The Graph cryptocurrency chart are signaling an upward trend, and the confirmation of this positive momentum comes from the RSI in the case of GRT crypto. RSI was at 64 and is moving towards the overbought territory. Investors in The Graph cryptocurrency need to wait until GRT crypto sustains at the upper trendline of the descending triangle pattern.
Summary
The Graph price prediction indicates the possibility of a recovery as GRT cryptocurrency strives to break out of a particular pattern. Investors and traders should keep a close watch on market conditions and the extent of buyer support to assess the potential for GRT crypto’s future recovery. However, the rate at which buyers are accumulating falls short of the desired level and needs to increase.
Technical Levels
Support Levels: $0.0866 and $0.0825
Resistance Levels: $0.0964 and $0.0990
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/10/25/the-graph-price-prediction-will-grt-sustain-at-the-neckline/