The Graph (GRT) price looks bullish after a strong bounce from its May 2023 lows. The latest analysis reveals there is a huge upside waiting for the cryptocurrency if the BTC price remains stable in the coming days. However, there is also a critical level on the chart which must be held.
Bitcoin price is trading sideways on Thursday. The leading cryptocurrency failed to gain strength above the $28,000 level and had a pullback once again. On Thursday, GRT crypto price had a quick pump and dump of almost 14%. Till press time, the coin was trading at $0.133 and was 0.30 down.
The Graph was one of the best-performing cryptocurrencies in the bull run of 2021. It surged to its all-time high of $2.84 in February 2021. However, the price has been in a massive downtrend since then. Currently, The Graph price is 95.3% down from its all-time high.
This is one of the major price decreases in major cryptocurrencies. The major hurdle in the price growth of GRT coin is its adoption. It has failed to live up to its hype as many analysts considered it a fundamentally strong coin. However, the price and fundamentals often don’t go side by side in crypto industry.
The latest analysis of the GRT crypto price chart reveals that it has been trading inside the $0.084-$0.17 trading range for quite a while. The Graph price prediction will remain bullish as long as the price holds the $0.105 level. There is also a possibility of another retest of the range highs, which lie at $0.17.
Such a retest will mean a 32% price increase from the current level. The invalidation of this move will be a daily closure below $0.105. The volumetric analysis reveals that a lot of aggressive seller sold at market price as the price had a flash pump today.
I’ll keep sharing updated outlook on GRT crypto in my free Telegram group that you’re welcome to join.
This post was last modified on Jun 01, 2023, 13:46 BST 13:46