- The Graph celebrates its 2nd birthday on 17th December, 2022.
- The volume spiked by more than 120%.
- New competitors in the market.
The Graph network turns 2 on the next weekend of December, and as a pre-birthday gift, the trading volume has risen by more than 120% in the last 48 hours. The birthday parties are to be held in Amsterdam, Dubai and Buenos Aires, of which the tickets are already sold out. What a vibe. The Web3 network’s native coin, GRT, has witnessed bullying by the new coin Flasko (FLSK), which is attracting users like a magnet. But the upcoming birthday week may be full of surprises and presents.
The party preparation
The GRT price has marked a horizontal movement breaching the 20 and 50 EMA and performing above the half line in the falling parallel channel. The holders await the further surge and hope for the momentum to be strong enough to mark a sharp breakout. The surge is expected to raise prices to $0.10, respecting the previous swing . The volume witnessed a spike, showing excited buyers are entering the market, taking OBV along with it to the higher spots.
The past week GRT prices have sent the CMF indicator to mark a clear breakout and a trial to mark a bull market, which may be witnessed soon near the birthday week. The MACD turns strongly bullish and records rising buyer bars. The RSI shoots up from below the half line to the higher zones, sloping up, and may get overbought.
The recent hours
The price moves sideways and escalates slightly. The CMF oscillates up and down the baseline but will rise soon as the price rallies. The MACD indicator diverges in a bullish swing with rising buyer histograms and widely separating lines performing above the zero mark. The RSI oscillates near the overbought border, indicating overwhelmed buyers entering the market.
The birthday preps are in full swing, and the party is going to be a bang. The holders expect huge returns from the price rally and a bullish breakout after the current crisis, which the whole crypto space faced and is trying to recover from.
Support levels: $0.05 and $0.03
Resistance levels: $0.10 and $0.15
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.