The Graph

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/the-graph-price-analysis-heres-why-grt-price-has-2x-potential-despite-a-supreme-trendline-breakdown/">The Graph Price Analysis: Here’s Why GRT Price Has 2x Potential Despite A Supreme Trendline Breakdown!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Despite the 288% jump in the early 2023 bull run, <a href="https://coinpedia.org/price-analysis/the-graph-price-analysis-heres-why-grt-price-can-crash-under-0-10-is-it-a-perfect-chance-to-sell/" rel="noopener noreferrer nofollow">the Graph falls under $0.10</a> and loses most of its gains. With extreme selling at $0.20, GRT prices fell under the influence of a resistance trendline, leading to a larger triangle formation in the 1-day chart.&nbsp; 
In the recent correction last week, the GRT price broke below the triangle formation, signaling a bearish turn. However, the downtrend faces solid bullish support at $0.0868, halting the weekly loss to 18%.&nbsp; 
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 <img decoding="async" src="https://lh3.googleusercontent.com/8UbUHfqxECeEACNXME4kGXiyyQt_kEuOK6h9k-1SX7R_wNirh7nshuroIWR2r2-WwePXRbpPdJx_HFhRg-PRlCZ0kS8tYpBDWg5xihtf9IMNsQJjWVGKsuEhNlckEdCIZodIonmEnzHTSIL8hBreO5w" alt=""> 
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Losing 58% of its market value in six months, GRT price tests the 78.60% Fibonacci level at $0.0868. This leads to finding a potential trend reversing the bullish footing for the Graph.&nbsp; 
Forming a double bottom pattern with lower price rejection, the GRT price can shortly shoot up. The reversal rally will retest the broken trendline and challenge the overhead resistances to reclaim the $0.10 mark.&nbsp; 
The spiking RSI line bounces from the oversold zone to reveal the underlying bullish framework. It even displays a bullish divergence at $0.0868, improving the chances of a strong recovery.&nbsp; 
If the GRT buyers hold off the selling spree at $0.086, a bullish reversal can challenge the $0.1128 overhead ceiling. Moreover, the breakout rally has the potential to reach the 2023 swing high of $0.20. 
However, the long resistance trendline is still in play and can force selling pressure on the recovering trend.&nbsp; 
If things turn south, the $0.0868 breakdown will nullify the rest of the 69% YTD growth and plunge the GRT price to $0.0537.

The Graph Price Analysis: Here’s Why GRT Price Has 2x Potential Despite A Supreme Trendline Breakdown!

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