Altcoins News
By Dan Saada
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The Graph (GRT) has been one of the top performers in the latest cryptocurrency market rebound, seeing a 15% surge in its price as most altcoins benefited from a broader market…
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The catalyst for GRT’s recent rally can be traced to Bitcoin’s strong performance this past week, which saw its price surge above $94,000.
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The broader positive sentiment has helped push GRT’s price 15% higher in the last 24 hours, continuing the positive trend seen in the past week, with GRT now up over 31%.
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In addition to market sentiment, The Graph’s price surge is also supported by a key technical breakout. GRT’s price has successfully broken above the $0.
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A falling wedge is characterized by converging trend lines and declining volume, suggesting that the market was in a consolidation phase before buyers stepped in to push the…
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On-Chain Activity Supports Bullish Sentiment
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On-chain activity also points to a bullish outlook for GRT. Staking activity by Indexers and Curators continues to grow, which may fuel further demand for the token.
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Currently, GRT is trading at $0.102, with an intraday high of $0.103, and a market capitalization of $997 million, positioning it as the 71st largest cryptocurrency.
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Looking ahead, GRT’s price could continue to climb, especially if the positive sentiment in the broader crypto market persists. The altcoin’s next major hurdle will be the $0.
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Analysts have pointed to GRT’s recent price action and the formation of a “perfect ABCD harmonic pattern,” suggesting that the altcoin may be poised for further gains.
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However, the path forward is not without risks. If GRT fails to maintain its position above the $0.10 level, it may retest support levels closer to $0.072.
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The Graph (GRT) has shown impressive gains, with a 15% price surge, supported by positive market sentiment and a technical breakout above $0.10.
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