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- The Graph price is trying to move above the $0.10 conceptual round level.
- On the daily price scale, the 100 day moving average acts as resistance.
- Price of the GRT/BTC pair is slightly in the green zone from 1.28% on 0.000004588 satoshis.
The Graph Price has reversed its previous price trend. On the hourly price chart, price action is forming a high-low formation since its 60-day low. At the time of writing, The GRT token of the USDT pair is trading at $0.096. In the intraday trading session, the bears are accumulating the price of the crypto to the downside.
Due to the continued selling trend, the bears have recorded a 52-week low of $0.0787 on October 21st. After the bounce back, this low turned into a key support if buyers fail to maintain the current price trend. At that time, graph price is attempting to move above the $0.10 conceptual round level.
Although, price action is drawing the higher-lows forming on daily and weekly charts. As of now, GRT stays above the 0.236 level of fib retracement. Above conceptual round level of $0.10, buyers may propel digital asset price until 0.618 level of fib retracement. The GRT token has multiple resistance levels.
In recent days, trading volume is increasing, overnight it reported at $95.3 Billion up 30%. Same as the USDT pair, the GRT/BTC pair price is slightly in the green zone by 1.28% at 0.000004588 satoshis.
In the context of daily price scale, after reversing from the bottom level, buyers maintain the price above the 20 and 50 day moving average. Despite the positivity, today the 100 day moving average acts as resistance. The RSI indicator is turning to the lower side, but still it is showing a positive trend.
Conclusion
The Graph price stuck amid a 50 day moving average and 100 DMA support and resistance. Buyers face a retracement phase at the weekend. Bulls need to maintain 50 DMA for support.
Support level – $0.090 and $0.0750
Resistance level – $0.10 and $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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
