The Graph (GRT): Is the Price Set to Rise to $0.30?

user avatar

by Giorgi Kostiuk

2 years ago

With a breakout from a falling wedge, GRT shows recovery, reaching the psychological $0.20 mark. But can it rise to $0.30?

Current GRT Price Analysis

In the daily chart, GRT shows an upward trend after a breakout from a falling wedge. Starting recovery at $0.1274, it has surpassed the $0.20 mark, currently trading at $0.2106 with a 3.48% intraday pullback. This rise also broke the resistance trendline and exceeded the 200-day EMA, marking a change in the trend character. Additionally, the 23.60% Fibonacci level breakout sets a reversal tone.

Technical Indicators

EMA: Amidst the recovery rally gaining momentum, the 50-day EMA is likely to cross above the 100-day EMA, increasing the possibility of a golden crossover in the daily chart. MACD indicator: The MACD and signal lines sustain a gradual bullish trend with gradual positive histograms.

Will GRT Reach $0.30?

Using the Fibonacci retracement tool, the uptrend is likely to challenge the 50% or 61.80% Fibonacci levels by the end of the month, situated at $0.290 and $0.3292 respectively. Conversely, a failed retest could result in a drop to $0.18 or the 200-day EMA or $0.17 near the 50-day EMA.

The rise of GRT above $0.20 suggests a potential continuation of the bullish trend, but resistance at $0.2521 and above requires retesting and confirmation of the trend. Further developments remain uncertain and depend on future market fluctuations.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

NAVI Prime's Curated Lending Markets: A Step Towards Enhanced Risk Management

chest

NAVI Prime introduces curated lending markets to enhance risk management in DeFi by isolating environments and customizing collateral rules.

user avatarMaria Fernandez

NAVI Protocol Launches NAVI Prime: A New Era in Decentralized Lending

chest

NAVI Protocol has launched NAVI Prime, a modular lending framework on the Sui blockchain that replaces shared liquidity pools with independently curated lending markets.

user avatarGustavo Mendoza

HINC Deployment Enhances Sui Network's Institutional Appeal

chest

The deployment of the Neuberger Securitize High Income Tokenized Fund (HINC) on the Sui network enhances its appeal to institutional investors and showcases its potential in the tokenized finance landscape.

user avatarMiguel Rodriguez

Neuberger Securitize Launches High Income Tokenized Fund (HINC)

chest

Securitize and Neuberger Berman have launched the Neuberger Securitize High Income Tokenized Fund, known as HINC, providing accredited investors with tokenized access to high-yield bonds and other credit products.

user avatarRajesh Kumar

Walmart's Stock Plummets After Earnings Report

chest

Walmart's stock fell over 9% after its fiscal second-quarter earnings report showed only a 2.6% increase in US comparable sales, raising investor concerns.

user avatarLuis Flores

New Report Released Based on Primary Source Documentation

chest

The report is based on information released in disclosures at primary source documentation, ensuring that the information provided is accurate and reliable.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.