The Graph coin performed well today, moving 12.30% of its value higher. Crypto has replaced Ethereum Name Service in the top spot on the list of daily crypto movers. However, it is necessary to take a closer look at this crypto to see how well the crypto can perform as of now.
Current GRT price: 0.1293
GRT market capitalization: 867.9 million
Total TSO offer: 10 billion
GRT rank: 57
Resistance: $0.112, $0.120, $0.1293
Support: $0.108, $0.102, $0.090
GRT/USDT Value Prediction: The Chart Facing Exhaustion
The daily chart for GRT/USDT shows that the uptrend is already exhausted. On this chart, although the EMA lines remain below the price movement, the chances of this trend reversing soon cannot be negated. From the last handle on this chart, we can observe that this candle has an upper to lower length. Going forward, this shows us that it was a narrow win for buyers. So, the next candlestick may not be as lucky as this one and may form a bullish candlestick, possibly driving the price down.
Furthermore, the Stochastic Relative Strength Indicator further confirms that this current trend will reverse soon. This can be seen from the curves of this indicator as it is already in the sold overseas region. Nevertheless, The Graph price may reach around $0.130 and $0.135 before reversing.
GRT/USDT Value Prediction: More Obvious Signs of a Downside Correction
Looking at the GRT/USDT four-hour chart, a clearer revelation of what is happening to this trend becomes clearer. The last three candles on this chart reveal that the reversal has begun. The penultimate candle on this chart was bullish, which drove the price lower. However, the next candle formed as a bullish candle but was unable to push the price to half the length of the bullish candle.
Additionally, we can see the behavior of the EMA curves, as they are already touching the candle. Eventually, these lines will cross above the price movement. And, as long as the EMA lines remain above the price, the price move will fall. Buyers will then be needed to reverse the trend. Moreover, the curve of the Stochastic Relative Strength Indicator is already dipping to the bottom. Therefore, The Graph price will soon fall to the resistance, perhaps at $0.120 and $0.100, as traders may place a short order soon.
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