Resistance

Million

The Graph

Coin

<p>The Graph (<a href="https://www.thecoinrepublic.com/price-prediction/the-graph/">GRT</a>) crypto has been in recovery mode for the past six days. It recorded 20% gain as the <strong>GRT price</strong> jumped from $0.1260 to $0.1500. </p> 
<p>Most AI tokens have attained significant demand in recent sessions. The <strong>GRT crypto</strong> has also participated in the relief rally and showed gestures of reversal. Amid the recent recovery this week, <strong>The Graph price</strong> managed to cross the 20-day EMA mark. </p> 
<p>It was crawling closer to the declining trendline barrier of $0.1550. However, it has been trading inside a falling channel. It has experienced a persistent selloff for the past three months. </p> 
<p>Last month, the GRT token tried to cross the pattern’s neckline but failed, and a rejection was observed. It led to a two-week correction before encountering support around the $0.1200 mark.</p> 
<p>Amidst the overnight rally in the crypto market, the GRT token expanded the bullish momentum. It has set the stage for a breakout. A daily close above the $0.1600 mark can validate the breakout.</p> 
<h2 class="wp-block-heading" id="h-grt-price-prediction-will-the-recovery-extend-ahead"><strong>GRT Price Prediction: Will the Recovery Extend Ahead?</strong></h2> 
<p>The daily chart of the <strong>GRT crypto</strong> indicated that it is footing a recovery with a double bottom pattern. While he market sentiments are gradually evolving and optimistic again, traders and investors are convinced about a long-term return as GRT is inclined to a breakout soon.</p> <iframe loading="lazy" title="Santiment Chart: Price (GRT), Volume (GRT)" width="800" height="425" src="https://embed.santiment.net/chart?ps=the-graph&amp;pt=GRT&amp;df=2024-03-14T00%3A00%3A00.000Z&amp;dt=2024-09-14T18%3A29%3A59.489Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%3B" scrolling="no"></iframe> 
<p>The <strong>GRT price</strong> was trading at $0.1502 at press time, with a positive change of over 3.02% over the last 24 hours.</p> 
<p>Waleed Ahmed, a reputed crypto enthusiast and analyst, tweeted that <strong>The Graph price</strong> faces a declining trendline and anticipates a breakout.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="tr" dir="ltr"><a href="https://twitter.com/search?q=%24GRT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GRT</a> memeline <a href="https://t.co/yulIN2Vufx">pic.twitter.com/yulIN2Vufx</a></p>— Waleed Ahmed (@Waleedahmed234) <a href="https://twitter.com/Waleedahmed234/status/1834481294991888666?ref_src=twsrc%5Etfw">September 13, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>The RSI line revealed a bullish crossover and crossed the neutral line at 52, representing the heightened buying pressure.</p> 
<p>As anticipated in the past few weeks, the GRT token located support near July’s low and commenced a fresh accumulation last week. This buy stirred hope for the investors to make fresh longs before a breakout.</p> 
<h2 class="wp-block-heading" id="h-discussions-about-grt-crypto-increased-on-social-media"><strong>Discussions About GRT Crypto Increased on Social Media</strong></h2> 
<p>An asset’s social dominance counts for its stake in online discussion. It directed a surge, meaning that more conversation is happening in the market compared to the past.</p> <iframe loading="lazy" title="Santiment Chart: Social Dominance (GRT), Active Addresses 7d (GRT)" width="800" height="425" src="https://embed.santiment.net/chart?ps=the-graph&amp;pt=GRT&amp;df=2024-03-14T00%3A00%3A00.000Z&amp;dt=2024-09-14T18%3A29%3A59.489Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bactive_addresses_7d&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Similarly, the surge in the active addresses data hints at increased investor enthusiasm and a bullish view. When writing, the active addresses data was noted around 3465.</p> 
<h2 class="wp-block-heading" id="h-futures-market-data-remained-bearish"><strong>Futures Market Data Remained Bearish</strong></h2> 
<p>Despite the significant price increase, the derivatives data remained bearish. It did not support a bullish <strong>GRT price prediction</strong>.</p> 
<p>The OI-Weighted funding rate remained below the zero line. It signified that short contracts overpowered long contracts and that’s a sign of bearishness.</p> 
<p>Moreover, the Open Interest (OI) did not change in favor of longs. It stayed flat at around $22.16 Million amid an intraday price change of over 3%. It signals that the bounce may be short-lived.</p> 
<p>In case of a successful breakout above the trendline barrier of $0.1600, the <strong>GRT price</strong> may face the upside hurdle of $0.1680 and $0.1720 in the coming sessions. On the other hand, the downside support levels were around $0.1500 and $0.1430.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/09/15/grt-price-at-major-resistance-level-can-bulls-trigger-breakout/">GRT Price At Major Resistance Level: Can Bulls Trigger Breakout?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

GRT Price At Major Resistance Level: Can Bulls Trigger Breakout?

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