The Graph ($GRT ), a blockchain indexing protocol, is experiencing a significant downturn, with a -16.94% drop against the US Dollar today. GRT also underperformed against Bitcoin and Ethereum, recording losses of -11.30% and -9.08% respectively. The crypto asset is currently trading 21.17% below our prediction made on April 18, 2024.

In the last month, The Graph has seen a steep decline of -48.81%, despite an overall increase of 33.66% since a year ago. The current price of GRT stands at $0.219198, significantly below our prediction of $0.278073, which represents a 30.55% price increase expected in the next 5 days.

However, the market sentiment for The Graph is bearish, with the Fear & Greed index reading at 72 (Greed), indicating a potential overvaluation. Key support levels are at $0.236617, $0.204212, and $0.164318, while resistance levels are at $0.308916, $0.348810, and $0.381215.

The Graph's technical analysis suggests a bearish trend, with 20 out of 30 indicators favoring a negative prediction. The cryptocurrency market's current state of greed may signal an overvaluation, which coupled with the bearish sentiment for The Graph, paints a pessimistic picture for the asset's near-term performance.

Investors are advised to exercise caution and seek independent professional consultation before making any investment decisions. The volatility and unpredictability of the cryptocurrency market necessitate careful consideration of all factors.