Graph Price Prediction: Range Breakout Hints GRT Price to Grow 18%

By Brian Bollinger
April 26, 2022 Updated April 26, 2022
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GRT coin

The Graph(GRT) price showcased high volatility over the past two weeks, struggling to move beyond the $0.38 or $0.34 levels. However, today, the coin price witnessed a sudden buying pressure, which gave a decisive breakout from the $0.38 mark. Sustaining through this breakout, the altcoin may retest the $0.46 or $0.53 mark.

Key points: 

  • Range breakout could trigger a new bull cycle in GRT
  • The 50 and 100 DMA bullish breakout is on the cards
  • The intraday trading volume in the GRT is $2792 Million, indicating an 88.71% gain.

GRT/USDT ChartSource- Tradingview

Since the January bloodbath plunged the Graph(GRT) price below the $0.52 mark, the buyers have struggled to surpass this resistance for the past three months. The recent reversal from the $0.52 mark had discounted the altcoin by 33% and brought it to the $0.35 mark.

The GRT price consolidated above this support for about two weeks, and responding to the bullish RSI divergence; it gave a massive breakout from the $0.388 resistance. The altcoin is up by 11.7% today, and the 81.3% hike in volume activity suggests a genuine breakout.

A daily-candle closing above the $0.38 resistance and 50 DMA may kickstart a new recovery rally. The post retest rally could drive the altcoin 18% higher to $0.46, followed by $0.52.

Anyhow, a bullish breakout from the $0.52 resistance level is important to end this three-month-old consolidation.

Technical indicator

DMA: The unwavering flattish 50 DMA reflects a side-ways rally in GRT price. However, the 50 DMA and 100 DMA situated near the $0.4 mark put an additional barrier to the $0.388 mark.

Vortex Indicator: A bullish crossover of the V+ and V- slope gives an extra confirmation for the $0.388 breakout. 

  • Resistance levels- $0.38, and $0.46
  • Support levels are $0.348 and $0.31

From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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