The past week has been challenging for the cryptocurrency market, feeling significant pressure from worsening geopolitical issues. Special attention is drawn to the drop in GRT.
Market Decline of Cryptocurrencies
The cryptocurrency market is experiencing bearish volatility amid mounting geopolitical tensions between Israel and Iran. Ethereum (ETH) has fallen by 11% in the past seven days and is currently trading at $2500. Altcoin tokens, including **The Graph (GRT)**, are also caught in the overall downtrend.
Fractal Indicates Possible Reversal
Recent analysis of GRT’s charts shows that the current situation reflects a pattern observed in early 2024 when GRT corrected by 34% within a descending channel, a structure often associated with bullish reversals. After that, GRT exhibited an explosive 111% rally, peaking at nearly $0.35. In recent weeks, GRT has corrected again by 39% within a similar channel and is currently nearing a support level, possibly signaling a reversal soon.
What to Expect from GRT in the Future?
If this bullish pattern holds, GRT could be poised for significant upside movement. A confirmed breakout from the current structure—especially with increasing volume—could send the token to the $0.20-$0.21 range. This would represent a potential upside of over 160% from current levels. However, caution is warranted; if the breakout attempt fails or lacks volume, the situation could deteriorate.
Thus, GRT and other altcoins are under pressure, yet signs of a possible reversal are emerging. There's room for growth, though risks remain present.
