The Graph Price Analysis: Is GRT Coin Price Ready To Break The Major Threshold Of $0.1?
- The Graph coin price is currently in a continuous upside trend. It may see a strong breakout in the future.
- Technical indicators of the GRT are favoring the bulls. Meanwhile, GRT/BTC pair has seen a decline of 1.345% in the intraday session
The Graph is an indexing protocol to query data on networks like Ethereum which can power may applications like Defi. Anyone can build and publish an open Api for the dat querying.The Graph has more than 200 indexer nodes which can be used by anyone. The team members of the company are from various big organizations like Ethereum, Decentraland, Red Hat and various others. GRT is an Erc 20 token on the Ethereum blockchain to power the network.
GRT has a total supply of over 10 Billion in which only 69% of the supply is currently circulating in the market. The current market cap of the asset is around 443 Million and is currently ranked 73 in the CMC. The volume of the asset price has seen a decrease of over 34% in the intraday session.
Technical Indicators Are Favoring An Upside Trend
GRT price has been forming a weak upside trend from the past few days. On coming to the daily chart the asset price is trading near $0.0644 and it seems that bulls are ready to take over. The upside momentum of the asset price can see a halt near the value of $0.1. Meanwhile a bounceback in the price can be seen near $0.03. The asset price is currently trading below the 50 and 100 DMA. GRT price can see a positive crossover from the DMA in the future which can push the price to a new high.
Crypto market has seen a severe impact due to FTX contagion in the past few weeks. Meanwhile GRT price has been showing some weak upside trend which can become strong in the near future.
Major Resistance: $0.1
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.
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