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- The Graph price falters near its all time low, GRT investors need to be the one with diamond hands.
- The crypto asset consolidates below 20, 50, 100, and 200-days Daily Moving Average.
- The pair of GRT/BTC is at 0.000005136 BTC with an intraday drop of 2.81%.
The Graph Price has been consolidating inside a range-bound area since 15th May. Due to the ongoing bear market circumstance, Bitcoin also falters at below $30000 psychological level; other altcoins are facing its consequences. Some altcoins are trading at their all time low and are struggling for their existence. This existential crisis created a panic selling environment throughout the cryptocurrency market. Investors are well aware of the cryptocurrency’s high volatility and are trying to stay strong with their respective holdings. GRT is one of the digital currencies facing an existential crisis as it falters at its all time low. At this panic time, cryptocurrency investors need to be rigid, just like the ones with diamond hands. The ones with diamond hands won’t sell their securities so easily and will wait for the market to rise.
The Graph price is presently CMP at $0.15 and has lost 9% of its market capitalization in the last 24-hour period. However, trading volume has slightly increased by 13% in the intraday trading session. This shows that the buyers are still involved in the trade for the GRT coin. Volume to market cap ratio is 0.06978.
GRT coin price is trying to gain the uptrend momentum and escape the consolidation phase over the daily chart. Trading volume signals that buyers are getting involved in the trade as they are accumulating but at a low rate and need to come forward to rescue the token. However, volume change can be seen below average and needs to grow for the GRT coin to successfully escape from the pattern.
Support at the lower end is at $0.13, and resistance on the higher side is at $0.20. The Graph price has been consolidating inside the same range mentioned above.
GRT Investors waits for Salvation
GRT coin price is trying to accumulate more buyers, but it looks like the buyers are not getting involved at the justifiable amount. The Graph investors need to wait until the price escapes the horizontal range-bound area with either the constant uptrend or downtrend momentum. Technical indicators suggest the downtrend momentum of GRT coin.
Relative Strength Index showcases that GRT is heading towards the oversold territory, and the token has been below the neutrality for so long, which can be seen over the chart.
MACD exhibits the bearish momentum of GRT coin price. The MACD line is above the signal line, but with minor differences and GRT investors need to wait until the MACD line or the signal line crosses each other registering either of the momentum.
Conclusion
The Graph Price has been consolidating inside a range-bound area since 15th May. Due to the circumstance of ongoing bear market, Bitcoin also falters at below $30000 psychological level other altcoins are facing its consequences. Some altcoins are trading at their all time low and are struggling for their existence.
GRT coin price is trying to gain the uptrend momentum and escape the consolidation phase over the daily chart. Technical indicators suggest the downtrend momentum of GRT coin. GRT investors need to wait until the MACD line, or the signal line crosses each other, registering either momentum.
Technical Levels
Support Level: $0.13
Resistance Level: $0.20
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
