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GRT/USD is currently priced at $0.06 and has increased by 3.52% over the past day
The trading volumes have increased by 49.65% over the past day
The technical indicators suggest a positive outlook for the near term.
Short Term View: GRT bulls leave a bad taste in bears’ mouth
The Graph price today is $0.064330 USD with a 24-hour trading volume of $47,631,343 USD. The Graph is up 3.52% in the last 24 hours. The trading volumes have increased over the past day whereas the Volume to Market cap ratio stands at 0.1073 for the altcoin.
The Graph bulls have stayed true to their course as the asset has steadily climbed through the ranks. The positive shift in momentum has resulted in GRT Price to transact above the 20,50 SMA on the four hour chart. The continued strength of the bullish rally could push The Graph price above the $0.07 resistance level and thus could play a major role in boosting the morale of the bulls. The support,on the other hand, is placed at $0.06 in the event of things taking a bearish turn of events. The next few days will prove to be crucial in deciding if the bears will be successful in altering the course of The Graph.
Long Term View for GRT
The RSI for The Graph has recovered from the recent oversold levels and is currently transacting at 45.10. The occurrence of the bullish crossover on the daily chart seems to have had a calming effect on the bulls as their efforts have finally bore fruit. This has led to the development of the green histograms on the daily chart which bodes well for the future prospects of the coin. The MACD and signal lines are showing signs of progress as well, which can be construed as a major victory for the bulls.
Conclusion
The positive price action witnessed in The Graph has brought with it a myriad of problems for the bears to overcome in the coming days as the bulls have had a field day in the market. The asset is expected to undergo a period of accumulation in the coming days before taking a giant stride.
Support: $0.06
Resistance: $0.07
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
