Home
News
- GRT coin price is currently in a consolidated downside trend and is down by 95% from its all time high
- Technical indicators of GRT suggests a downside trend in price.GRT/BTC pair has seen a drop of more than 0.4%
The Graph is a decentralized protocol that allows users to query and index data from the Ethereum blockchain and other decentralized networks. It is designed to make it easier for developers to build decentralized applications (dApps) by providing a fast and reliable way to access data from the Ethereum network.The Graph is based on the idea of a decentralized index, which is a database that is maintained by a network of nodes rather than a central authority. This means that anyone can contribute to the index and query data from it, and the data is stored in a decentralized way that is resistant to censorship and tampering.
One of the key features of The Graph is its use of subgraphs, which are collections of data that are organized and indexed in a specific way. Developers can create their own subgraphs and add them to the network, allowing them to query and index data in a way that is tailored to their specific needs. This makes it easier for developers to build dApps that are tailored to specific use cases, such as tracking supply chain data or managing a decentralized marketplace. In addition to its decentralized index, The Graph also includes a number of other features that make it useful for developers.
Is GRT Crypto Price Ready For A Bounceback?
The Graph Price has been in a consolidated trend for a long time. It has seen a drop of more than 95% from its all time high. The weekly technical chart of GRT suggests a downside momentum. On coming to the daily chart the asset price is trading near the value of $0.056 with a drop of more than 0.38%. Resistance of GRT crypto price can be seen near $0.085. Meanwhile the bounce back in price can be seen near $0.025. The asset price is currently trading below 50 and 100 DMA suggesting a downside momentum.
Conclusion
GRT has been affected by the crypto downtrend. The Graph crypto price is currently trading in a downside trend and can see a reversal in future.
Technical Levels
Major Support:$0.025
Major Resistance: $0.085
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.
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.
