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Technical Analysis: The Graph (GRT) May Have Started A New Uptrend, Here Is The Next Target
The Graph (GRT) has successfully flipped the previously long-term resistance level into support, potentially starting a new uptrend.
The Graph is a decentralized protocol using AI with the purpose of supporting blockchain data query and indexing protocol on the Web3 platform. The explosion of AI, thanks to ChatGPT, could help this token rise even further this year.
Creating a higher low
The Graph (GRT) had fallen below the cluster of 20-week MA-EMA since November 2021. This cluster had rejected the price many times, most recently in late October 2022 (red arrow), leading to the lowest level of $0.52 in November of the same year.
However, the price has since risen and broken above this cluster ($0.11) with a large bullish candle. This move helped push the price up to the 0.382 Fib resistance level of the decline from April 2022.
Despite being rejected, The Graph (GRT) has successfully flipped the 20-week MA-EMA cluster into support and created a higher low. This is a very important development because it shows that GRT may have started a new uptrend.
Therefore, the GRT price may continue to rise to the recent local high of $0.23 and higher to the resistance zone of $0.29-$0.35, formed by the horizontal resistance zone and Fib 0.5-0.618.
The RSI indicator supports this possibility when a significant uptrend divergence forms before the entire uptrend movement and is above 50.
Breaking above $0.23 will confirm that the trend is up.
GRT/USDT weekly chart. Source: TradingView
Short-term prospects
The 4-hour chart supports the possibility of continued upside. The GRT price has rebounded from the 0.5-0.618 Fibonacci retracement support zone of the recent uptrend and formed a double bottom pattern. This is a bullish pattern that often leads to continued uptrends.
In addition, the price has also broken above a descending parallel channel formed since March 18. This indicates that the short-term correction has ended.
Therefore, GRT may continue to rise to the recent high of $0.175. Breaking above this level will help the price surge to $0.23, as mentioned above.
GRT/USDT 4-hour chart. Source: TradingView
Conclusion
Overall, the most likely outlook suggests that the GRT price will continue to rise in the future. The nearest target found is $0.175 and higher to 0.23.
Breaking down below the 0.5-0.618 Fibonacci retracement support zone at $0.132-$0.14 will invalidate short-term bullish prospects, while breaking down below the 20-week MA-EMA cluster will invalidate bullish prospects.
#Thegraph #GRT #TechnicalAnalysis #azcoinnews #crypto2023
This article was republished from azcoinnews.com
The Graph is a decentralized protocol using AI with the purpose of supporting blockchain data query and indexing protocol on the Web3 platform. The explosion of AI, thanks to ChatGPT, could help this token rise even further this year.
Creating a higher low
The Graph (GRT) had fallen below the cluster of 20-week MA-EMA since November 2021. This cluster had rejected the price many times, most recently in late October 2022 (red arrow), leading to the lowest level of $0.52 in November of the same year.
However, the price has since risen and broken above this cluster ($0.11) with a large bullish candle. This move helped push the price up to the 0.382 Fib resistance level of the decline from April 2022.
Despite being rejected, The Graph (GRT) has successfully flipped the 20-week MA-EMA cluster into support and created a higher low. This is a very important development because it shows that GRT may have started a new uptrend.
Therefore, the GRT price may continue to rise to the recent local high of $0.23 and higher to the resistance zone of $0.29-$0.35, formed by the horizontal resistance zone and Fib 0.5-0.618.
The RSI indicator supports this possibility when a significant uptrend divergence forms before the entire uptrend movement and is above 50.
Breaking above $0.23 will confirm that the trend is up.
GRT/USDT weekly chart. Source: TradingView
Short-term prospects
The 4-hour chart supports the possibility of continued upside. The GRT price has rebounded from the 0.5-0.618 Fibonacci retracement support zone of the recent uptrend and formed a double bottom pattern. This is a bullish pattern that often leads to continued uptrends.
In addition, the price has also broken above a descending parallel channel formed since March 18. This indicates that the short-term correction has ended.
Therefore, GRT may continue to rise to the recent high of $0.175. Breaking above this level will help the price surge to $0.23, as mentioned above.
GRT/USDT 4-hour chart. Source: TradingView
Conclusion
Overall, the most likely outlook suggests that the GRT price will continue to rise in the future. The nearest target found is $0.175 and higher to 0.23.
Breaking down below the 0.5-0.618 Fibonacci retracement support zone at $0.132-$0.14 will invalidate short-term bullish prospects, while breaking down below the 20-week MA-EMA cluster will invalidate bullish prospects.
#Thegraph #GRT #TechnicalAnalysis #azcoinnews #crypto2023
This article was republished from azcoinnews.com
#GRT is holding within this parallel price channel and is ready for a breakout soon. A break out of the channel to the lower side watch for a breakdown move to $0.165 and $0.15 which are support.#Thegraph can also bounce and break out of the channel to the upper side having my targets at $0.2 and $0.26.
#NFP #BTC #Launchpool
#NFP #BTC #Launchpool
3/🔍🔎
Mit dem Graph Protocol können Entwickler:innen Daten von verschiedenen Blockchains leicht erstellen und abfragen, ohne einer wilden Gänsejagd nachzugehen! 🦆🚫
Anstatt sich durch Berge von Daten zu wühlen, können sie mit nur wenigen Zeilen Code die Antworten erhalten, die sie benötigen.
4/📊📈
Stellt euch das Graph Protocol als den Batman der Datenvisualisierung vor! 🦇📊
Es nimmt all diese komplexen Blockchain-Daten und verwandelt sie in schöne, leicht verständliche Grafiken und Diagramme. Plötzlich wird die Analyse von Daten so aufregend wie das Anschauen eines Superheldenfilms! 🍿🎥
#thegraph #grt #Thegraph #Thegraphgermany #TheGraphGermany
Mit dem Graph Protocol können Entwickler:innen Daten von verschiedenen Blockchains leicht erstellen und abfragen, ohne einer wilden Gänsejagd nachzugehen! 🦆🚫
Anstatt sich durch Berge von Daten zu wühlen, können sie mit nur wenigen Zeilen Code die Antworten erhalten, die sie benötigen.
4/📊📈
Stellt euch das Graph Protocol als den Batman der Datenvisualisierung vor! 🦇📊
Es nimmt all diese komplexen Blockchain-Daten und verwandelt sie in schöne, leicht verständliche Grafiken und Diagramme. Plötzlich wird die Analyse von Daten so aufregend wie das Anschauen eines Superheldenfilms! 🍿🎥
#thegraph #grt #Thegraph #Thegraphgermany #TheGraphGermany
The Graph has integrated with Bitcoin, allowing developers to access Bitcoin historical data efficiently.
This integration was made possible by StreamingFast , a core developer of The Graph, who introduced a new Bitcoin Firehose implementation.
#Thegraph #Memecoins #BullorBear #BRC20 #BTC
This integration was made possible by StreamingFast , a core developer of The Graph, who introduced a new Bitcoin Firehose implementation.
#Thegraph #Memecoins #BullorBear #BRC20 #BTC
The Graph is an indexing protocol for organizing and accessing data from blockchains and storage networks. It allows developers to search, find, publish, and use the public data they need to build decentralized applications. The Graph Network enables the accessibility of decentralized applications through public and open APIs, called subgraphs. The native currency of The Graph is GRT. The Graph has volunteers known as Curators, Indexers, and Delegators who work to process data and share it with Consumers. The Graph offers support to index data from 25 different blockchain protocols including Ethereum, NEAR, Arbitrium, Optimism, Polygon, Avalanche, Celo, Fantom, and Moonbeam.#GRT #LTC/USDT #Thegraph $GRT
#GRT is breaking down after losing support at $0.15. Next support lies at $0.1378. In case of another dump watch for support at that area.
#Thegraph #BTC #BinanceWish
#Thegraph #BTC #BinanceWish
#GRT is holding above support at $0.165 after breaking above it and flipping it into support. Next targets for #Thegraph lie at $0.2 and $0.26 on the next breakout to the upper side.In case of a pullback watch for support at $0.165. If we lose that expect a deeper pullback to $0.15 which is support.
#BTC #ETH
#BTC #ETH
#GRT is holding within a parallel price channel. Soon expect a breakout of the channel to the lower side or to the upper side.#Thegraph can break out of the channel to the upper side having $0.2 and $0.26 as the next targets.A break of the channel to the lower side $0.165 and $0.15 are my next targets.
#GRT/USDT #BTC #sol
#GRT/USDT #BTC #sol
#GRT is breaking down losing support at $0.165. In case of another pullback watch for support at $0.15 in the coming hours.#Thegraph can also bounce breaking above resistance at $0.165 flipping it into support. In case of a such a move watch for a rally to $0.17, $0.2 in the coming hours.
#GRT/USDT #BinanceTournament #BTC
#GRT/USDT #BinanceTournament #BTC
Don't Miss Out: GRT - Where Innovation Meets Investment Success!
What is the Graph ?💡
👉The Graph is a decentralized protocol for querying data from blockchains, aiming to make blockchain data more accessible and usable.
The Graph token (GRT) is used to incentivize participants in the network, such as indexers who organize and store data, curators who signal which data is valuable, and delegators who support indexers.
👉💥The Graph can be a leading technology for blockchain because it enables efficient and decentralized data querying, which is essential for decentralized applications (dApps) to function effectively.
👉By providing a way to index and query blockchain data in a decentralized manner, The Graph enhances the scalability, usability, and interoperability of dApps, potentially driving broader adoption of blockchain technology. Additionally, The Graph's open protocol allows for flexibility and innovation, enabling developers to build new types of applications and services on top of blockchain networks.
🚀In essence, GRT isn’t just a token – it’s a gateway to the future of decentralized data, with the potential to unlock significant opportunities for those savvy enough to recognize its value early on.
🚀🚀#graph #Index #Thegraph
What is the Graph ?💡
👉The Graph is a decentralized protocol for querying data from blockchains, aiming to make blockchain data more accessible and usable.
The Graph token (GRT) is used to incentivize participants in the network, such as indexers who organize and store data, curators who signal which data is valuable, and delegators who support indexers.
👉💥The Graph can be a leading technology for blockchain because it enables efficient and decentralized data querying, which is essential for decentralized applications (dApps) to function effectively.
👉By providing a way to index and query blockchain data in a decentralized manner, The Graph enhances the scalability, usability, and interoperability of dApps, potentially driving broader adoption of blockchain technology. Additionally, The Graph's open protocol allows for flexibility and innovation, enabling developers to build new types of applications and services on top of blockchain networks.
🚀In essence, GRT isn’t just a token – it’s a gateway to the future of decentralized data, with the potential to unlock significant opportunities for those savvy enough to recognize its value early on.
🚀🚀#graph #Index #Thegraph
#GRT is holding within a parallel price channel and is ready for a breakout soon. A breakout of the channel to the upper side watch for breakout to $0.2 and $0.26 as the next targets.#Thegraph case also breakout of the channel to the lower side. In case of such a movement targets lie at support at $0.165 and $0.15.
#sol #BTC #NEAR
#sol #BTC #NEAR
