- GRT coin price is currently seeing a consolidated momentum on the daily chart but can soon revert to the uptrend..In contrast, it is trading with a loss of more than 5% in the intraday session.
- Technical indicators of The Graph price suggest a consolidated momentum for upcoming days. Meanwhile, GRT/BTC pair has observed a loss of more than 3% in the past 24 hours
GRT coin is currently ranked 32nd in the CMC with a market dominance of more than 0.22%. The volume of the coin along with the market cap has observed.some decrease in the past few days. The volume to market cap ratio of the GRT is 0.0459, and if it jumps above 0.57 then a strong upside momentum can be observed
Why To Invest In GRT Coin?
GRT coin is currently trading in a consolidated zone but can soon revert to the uptrend. The Graph price is trading with a loss of 3% in the intraday session and is near the value of $1.
The Graph is a blockchain powered indexing protocol which is used for querying data in the networks like Ethereum and IPFS. The platform is also used in powering many applications in both DeFi and the broader Web3 ecosystem.The graph aims towards bringing reliable decentralized public infrastructure to the general users. One can invest in GRT according to the price action and their risk capacity.
Technical Indicator Suggest A Consolidated Momentum For GRT Coin Price
The weekly technical chart of The Graph highlights a consolidated momentum in price. On coming to the daily chart the GRT price is above 50 and 100 MA,with a positive crossover in the past. The 100 MA(Red) line is at $0.715, making it a temporary bounceback region for the coin. Resistance for the coin on going upside is near $1.4. While on the downside, the coin price might see a support nea $0.8..There is a formation of bearish engulfing pattern on the chart. If the price goes 10% below the current level then a downtrend upto $0.6 can be observed. GRT/BTC pair is currently performing negatively but can soon revert to the uptrend..
Conclusion
GRT coin price has given great returns in the past to the investors in the past and can do the same in future.It is currently in a downtrend but can soon revert to the uptrend .GRT/BTC pair can also observe a new high being formed in the future.
Technical Levels
Major Support:$0.8
Major Resistance:$1.4