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The GRAPH Price Prediction – Will GRT Price Hit $3 in 2021?

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  • Bullish GRT price prediction ranges from $1.11 to $2.44.
  • The GRT price might also reach $3 soon.
  • GRT’s bearish market price prediction for 2021 is $0.74.

This The Graph (GRT) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our GRT price analysis and prediction.

The crypto industry continues to revolutionize its technology to stay competitive against its competitors. Despite this market decline due to the pandemic, the volume of cryptocurrencies still increases every day. One of them is The Graph (GRT) cryptocurrency.

GRT is one of the promising cryptos that technology allows DApps and other blockchains to interact together seamlessly. A few days after its launch, the platform partnered with different exchanges in the crypto world. This wide exposure of GRT tokens to different exchanges triggers the mass adoption of the tokens. As a result, the trading volume of the token boosted to over $3 billion after 48 hours of its launch.

Now that we’ve seen some of the achievements of GRT, would this crypto be a profitable investment in 2021? Let’s check it out in this CoinQuora The Graph (GRT) price analysis and price prediction 2021. But before anything else, let us first understand ‘what is The Graph (GRT)?’

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What Is The Graph (GRT)?

The Graph (GRT) is an ERC20 token that runs on the Ethereum blockchain. It is founded by a group of developers from the Ethereum Foundation, OpenZeppelin, and Decentraland, to name some.

These teams of experts have professional experience in blockchain engineering. As for their latest project, the team aims to build immutable APIs and data access. Hence, The Graph cryptocurrency was born.

GRT technology focuses on the indexing and querying of data from blockchains. It supports indexing data from Ethereum, Interplanetary File System (IPFS), and POA technologies. Today, the GRT protocol has been deployed for different kinds of DApps such as Uniswap, Synthetic, AAVE, and more.

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The Graph has support from countries such as the EU, UK, and other Asian countries. Consequently, more traders can participate and enjoy GRT trading in their respective countries.

Now that we are aware of what is GRT, let us head to our GRT market analysis and price prediction.

The Graph (GRT) Current Market Status

According to CoinMarketCap, GRT trades at $0.93 with a 24-hour trading volume of $184,645,676, as of the time of writing this GRT price analysis. The price of GRT has decreased by 3% in the last 24 hours.

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Furthermore, GRT has a current circulating supply of 4.72B GRT. Currently, the top cryptocurrency exchanges for GRT are Binance, OKEx, Upbit, FTX, and CoinTiger Exchange.

Now, let’s proceed to the next part of this GRT technical analysis for 2021.

The Graph (GRT) Price Analysis 2021

Currently, GRT holds 44th place on CoinMarketCap. But will the latest upgrades, development, and changes in the GRT blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this GRT price prediction article.

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GRT/USDT chart showing Cup With Handle pattern
GRT/USDT chart showing Cup With Handle pattern (Source: TradingView)

Based on the graph above, the chart displays a cup and handle pattern. The pattern represents a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the lower trendline represents the start of a new bearish trend, while a breakout from the upper trendline shows the start of a new bullish trend.

As shown above, at the beginning of this month, GRT turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

GRT Relative Strength Index
GRT Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) is above 57.48, which means that GRT is in a neither overbought nor oversold state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of GRT.

GRT 30-day SMA and 50-day EMA
GRT 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, GRT’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, GRT has a competitive market this 2021.

The Graph (GRT) Price Prediction 2021

The chart below shows that GRT has performed great over the past few days. Moreover, the GRT price shows a bullish trend. If this trend continues, GRT might run along with the bulls, overtaking its $2.44 resistance level and moving higher.

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GRT/USDT Price Chart
GRT/USDT Price Chart (Source: TradingView)

Conversely, if the investors turn towards the crypto, the bears might take over and push GRT from its uptrend position. In simpler terms, the price of GRT might plummet to almost $0.74, a bearish signal.

Meanwhile, our long-term GRT price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.

The Graph (GRT) Price Prediction 2022

If this bullish trend continues, GRT will reach $3 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $3.5. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $3 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

The Graph (GRT) Price Prediction 2023

If GRT holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $5, making it not plummet but play consistently.

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The Graph (GRT) Price Prediction 2024

As per the latest upgrades, developments, GRT price prediction, and new project forecasts of the platform, GRT investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of GRT in the crypto market, and it will be the best investment as the price can spike and reach around $6.5.

The Graph (GRT) Price Prediction 2025

In the next four years, GRT prices could race up to $10. However, reaching this level could not be so difficult for GRT as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that GRT has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

GRT has a bright future ahead of it in 2021. With the ongoing developments happening within the GRT ecosystem, as well as in the overall crypto market, we may see GRT reach new heights.

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Bullish GRT price prediction 2021 is $3. As said above, it may even reach its new ATH if investors have decided that GRT is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is GRT?

The Graph (GRT) is an ERC20 token that runs on the Ethereum blockchain. It is founded by a group of developers from the Ethereum Foundation, OpenZeppelin, and Decentraland, to name some.How to Buy GRT Tokens?

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Like other digital assets in the crypto world, GRT can be traded on many exchanges. Users can obtain GRT tokens by purchasing them from cryptocurrency exchanges such as Binance, OKEx, CoinTiger, Upbit, and Huobi Global.Will GRT Surpass its Current ATH?

GRT is a good investment in 2021, this token could be considered by most crypto investors. However, GRT has a high possibility of surpassing its current ATH at about $2.88 by 2022.Can GRT reach $3 soon?

GRT is one of the active crypto assets that continues to maintain its uptrend position. If this bullish trend continues, GRT might be able to break from $2.44 and go all the way to $3. Of course, this is very likely to happen if the bullish market continues to favor this crypto.Is GRT a good investment in 2021?

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GRT is considered one of the top-rising cryptocurrencies this year. Also, along with the recorded achievements of GRT in the past few months, we can say that GRT is indeed potentially good crypto to invest in this yearWhat will be the Graph price by 2022?

The Graph (GRT) price is expected to reach $3.5 by 2022.What will be The Graph price by 2023?

The Graph (GRT) price is expected to reach $5 by 2023.What will be The Graph price by 2024?

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The Graph (GRT) price is expected to reach $6.5 by 2024.What will be the Graph price by 2025?

The Graph (GRT) price is expected to reach $10 by 2025.

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The Graph

The Graph price analysis: Bulls prepare to hit their next target beyond $0.77

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  • Price has rejoined the $0.76 level today.
  • The Graph price analysis predicts an uptrend.
  • Support level is found at $0.624 for now.

The green candlesticks have returned to the price chart as a rise in bullish momentum has been detected as per The Graph price analysis. The situation is getting favorable for the buyers as the price has been travelling safely since the past few days. The upward movement in price has resulted in it climbing above $0.76 in the last 24-hours. The bulls are dominating in the market today and the upward trend has been following regularly.

GRT/USD 1-day price chart: Price resettles above $0.76 position after winning victory

The 1-day price chart for The Graph price analysis shows chances are increasing for the buyers to secure their permanent lead as the price has been floating above $0.765. In the past few days, a remarkable level of recovery has been reported as the price has increased sufficiently. The gains have been considerable and the chances of an upcoming upswing are coming back. The price has moved higher than the moving average (MA) level as well which is settling at $0.711 for now.

The price underwent noticeable fall during the past few weeks but now the bulls are getting back on track. The Bollinger band indicator in the candlestick chart is dictating the following values; the upper value is $0.776 whereas the lower value is $0.624. The Relative Strength Index (RSI) score has reached 54.60 as the graph shows an ascending curve.

The Graph price analysis: Recent upset risks price stooping below $0.76

The ongoing uptrend has undergone reversal as a downturn in price has been reported in the last four hours. The bears have made a strong comeback in the past few hours and have been able to degrade the coin value to a great extent. The cryptocurrency has been devalued to $0.765 after the trends underwent a major shift recently. The four hours price chart is also pointing out that the moving average for GRT/USD is currently at $0.735.

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The Graph price analysis: Bulls prepare to hit their next target beyond $0.77 2
GRT/USD 4-hours price chart. Source: TradingView

A crossover between SMA 20 and SMA 50 occurred previously but now the bullish trend has been overturned. The volatility has increased in the last four hours as now the upper Bollinger band is at $0.774 and the lower Bollinger band is at $0.641. The RSI score has gone down to 61.98 as a result of the sudden downfall in price.

The Graph price analysis: Bulls prepare to hit their next target beyond $0.77 3
GRT/USD technical indicators chart. Source: TradingView

The general trend that has been observed during the past few days has been on the bullish side, as it can be further confirmed from the technical indicators chart. There are 12 indicators occupying the buying position, 10 indicators are on the neutral position and four indicators are on the selling position.

The moving averages indicator is showing favorable results for the buyers as well with a buying signal. There are 10 indicators currently present on the buying position, four indicators on the selling position and one indicator on the neutral position. The Oscillators are going bullish with two oscillators on the buying position, nine on the neutral position and zero oscillators on the selling position.

The Graph price analysis conclusion

The price is going high according to the one day and four hours The Graph price analysis. The bullish momentum has been rising since the past few days, which has greatly benefited the buyers. The recovery in bullish momentum has resulted in the price rejoining the $0.765 level today. A sudden drop in price happened in the last four hours which means that the coming hours might prove slightly unfavorable for the cryptocurrency.

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The Graph

The Graph Price Prediction 2021-2028

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The blockchain, a decentralized database, is no doubt one of the revolutionary technologies of the modern age. It offers innumerable advantages over traditional database systems and finds application in every facet of our everyday lives. Some networks fail to quickly process and retrieve data from various apps on the network. This phenomenon is generally referred to as the “Blockchain Indexing problem.”

Querying and indexing data on the blockchain has become quite a problem for dApps and projects alike, as developers usually encounter bandwidth and performance issues. Unlike traditional databases, say MySQL, the blockchain has no query function/programming language. Also, its distributed nature, limited APIs, and data entanglement further complicate the possibility of data indexing. For example, blockchain can quickly secure patients’ health records, but retrieval is another matter. Challenges are no longer new to networks like trading platforms, decentralized applications, and virtually all blockchain-based projects.

Here’s where the Graph – a decentralized and indexing protocol – comes to the rescue. It was founded in 2018 by Jannis Pohlmann, Brandon Ramirez, and Yaniv Tal. This project aims to solve blockchain indexing and querying problems by leveraging open APIs or subgraphs. These open APIs can be utilized by developers to query, index, and retrieve from decentralized applications. 

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This guide provides pertinent information about the network, the Graph price today, its historical performance, and prospects. Also, it gives a detailed Graph technical analysis and predictions for informational purposes.

What is the Graph?

The Graph network is a decentralized data querying and indexing protocol that allows seamless data sharing across applications and the blockchain. It is the first blockchain-based querying and indexing platform in the cryptosphere. Since its inception in 2018, it has hit several billions of data queries. In April 2021 alone, the Graph has processed over 20 billion data queries and has continued to gain more traction. It utilizes an ERC-20 token – GRT.

Like search engines’ webpage indexing, the Graph indexes data from supported blockchain networks like ETH, Arbitrum, Celo, XDAI, FANTOM, Avalanche, IPFS, BSC, Polygon, and PoA networks. The indexed data is grouped into subgraphs called publicly available APIs or open APIs accessible to developers. As of the end of 2020, over 2300 subgraphs have been rolled out for several network participants.

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After the institution of the Graph mainnet, the project created a viable environment for the absolute decentralization of Apps and ease of access to data on the blockchain. With its introduction of open APIs, developers and other participants on the network can easily create subgraphs to query, index, and fetch information for various DApps. Furthermore, the network’s functionality depends on Graph Nodes that execute a thorough scan of the blockchain’s database.

Indexing ensures that data structures about their use by DApps are defined. For efficient operations, the Graph requires the support of Indexers, Delegators, and Curators, all of whom make indexing services available to end-users, stake GRT tokens to protect the Graph network, and receive GRT tokens in reward payments. The incentivization of the contribution by developers and other participants to the network ensures that they provide accurate data and improve APIs. Also, end-users who query subgraphs get to pay GRT tokens to contributors via a gateway.

The Graph offers developers cost-efficient, secure and intuitive APIs. Also, DApps can add data to the Ethereum network using smart contracts. The APIs provided by this network are used by some of the fastest-growing DeFi platforms in the cryptosphere; Synthetix, Aragon, AAVE, DAOstack, Balancer, and Uniswap leverage this innovation to enhance data responsiveness.

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The Graph (GRT) Token

GRT is an Ethereum-based token that serves as the central governance and utility token of the network. It can be utilized for global value transfer. The holders of the tokens gain rights in the ecosystem, and rewards are issued in GRT.

The price of the Graph is established as GRT tokens are exchanged in the digital currency market. In addition, other specific factors that dictate the price of GRT are technical features, total supply, project roadmap, regulations, upgrades, circulating supply, mainstream use cases, investor sentiments, etc.

Use Cases of the Graph (GRT) Network

As already established, the difficulty in querying data on the blockchain birthed the Graph (GRT) network, and its application is specific to this concern. The properties of the blockchain network, such as chain reorganizations, finality, and structured blocks, complicate the indexing process, making it onerous to extract accurate query outcomes from data blocks.

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The Graph disentangles the process by utilizing a decentralized protocol known as subgraphs that facilitates the systematic indexing and querying of information stored on the blockchain. The Graph (GRT) creates a global API that development teams can use to streamline operations and reduce processing times. Applications built on The Graph efficiently function while maintaining their decentralization. The solution offered by this innovation has continued to gain massive traction in the crypto ecosystem, and more dApps use cases are beginning to surface.

Historical data and technical analysis

The Graph Price Prediction 2021-2028 1

Despite the decline in prices of assets caused by the pandemic, crypto volumes have continued to increase, and the Graph (GRT) is one of such cryptocurrencies. Attempting to delve into a GRT technical analysis requires an in-depth review of its performance and historical data.

The Graph token (GRT) began trading on the digital currency market on the 17th of December 2020, and in its first few days, it attained a price of $0.78. Its total token supply is 10 billion. At the start of January 2021, it dipped below the $0.3 mark and hit a 30-day low of $0.26. Throughout these periods, the effect of GRT on the DeFi space remained noticeable, and the market price soon began trending upwards with other assets in the cryptosphere. On the 12th of February, 2021, GRT price rose to an all-time high of $2.88, a price surge attributed to the growing public awareness and adoption of the Graph project, coupled with its support for popular blockchains. 

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The Graph Price Prediction 2021-2028 2

After its price surge in February, The Graph’s price took to a downward trend, but with some pumps in March and April. In April 2021, GRT’s mainnet was launched, which propped the token’s price from about $1.25 to over $1.55. In early May 2021, GRT’s price fell below $1 with a wild swing as with other currencies in the sphere. 

The Graph’s price slowly retraced the $1 mark in August and September 2021 but has faced a reversal on these attempts. According to CoinMarketCap, the current price of GRT is trading around $0.6 – $0.7, with a market cap of over $3 billion and a circulating token supply of about 47%.

The Graph price prediction 2021 – 2028

Since the turn of 2021, the price of GRT has experienced a couple of bullish movements, as with other digital assets, followed by consolidations, fluctuation, and corrections. When putting out this piece, GRT is ranked at 45th place and has a 24-hr trading volume of over $120 million.

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GRT/USDT chart showing a descending price movement (Source: TradingView)

In the 4-hour GRT/USD chart above, a descending pattern can be noticed. This pattern indicates the bearish nature of GRT in the past months and could serve as a hint that more bearish movements await the digital asset. However, based on its fluctuations and price recoveries over the past few months, it could be set for a bullish trend soon.

The Graph Price Prediction 2021-2028 3

As seen on the price chart above, the Relative Strength Index of GRT indicates that the asset is neither oversold nor overbought. Thie price movement shows that the market is in equilibrium, and prices are pretty stable within a range. 

Let’s get into a couple of the Graph price predictions from experts in the cryptosphere.

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GRT price prediction from TradingBeasts

The Graph Price Prediction 2021-2028 4

According to TradingBeasts, the Graph (GRT) price is expected to attain a minimum price of $0.7645416 and a maximum price of $1.1243259 in October 2021. Also, the average price within 30 days is expected to reach $0.8994607. 

In November 2021, GRT price is expected to soar over 5%, with a forecast minimum price of $0.79749922 and a maximum expected price of $1.1727929. The average expected Graph price for this period is $0.9382343.

The Graph forecast for December 2021 is entirely on the flip side, as some price fluctuations and corrections are expected. This is typical of the historic voyage of this coin. As per TradingBeasts, GRT is likely to trade around $0.64 – $0.94, with an average forecast price of $0.7599601. 

The Graph Price Prediction 2021-2028 5

Trading Beast forecasts a price recovery for GRT in January 2022, and afterward, it is expected to go on a bullish run, attaining a maximum price of $1.8837021 by December 2022. According to this Graph price prediction, the GRT will be a profitable investment for the near future and could create ample profit margins for traders and investors. 

The Graph price prediction from Wallet Investor

Wallet Investor is quite pessimistic with the price prediction for GRT. Over 1 year (2022), GRT’s price is expected to take a downward trend. By 2025, Wallet Investor predicts a bear market with a minimum price of $0.0399, a maximum price of $0.120, and an average coin price of $0.0799.

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The Graph Price Prediction 2021-2028 6
The Graph Price Prediction 2021-2028 7

The Graph price prediction from Longforecast

Longforecast is somewhat optimistic in the long term about the price movement of GRT as they forecast a slightly bearish end to 2021, and afterward, an upward price trend in 2022. According to Longforecast, GRT will trade within the range of $0.69 – $0.79 by 2021 and $0.86 – $1.10 by the end of 2022.The Graph Price Prediction 2021-2028 8

GRT price forecast from Digitalcoinprice

Digitalcoinprice is also optimistic and has put out a bullish GRT price prediction that forecasts investor sentiments will favor the coin shortly. 

The Graph Price Prediction 2021-2028 9

As seen in the chart above, GRT is expected to trade above $1 in 2021. In 2022, the Graph (GRT) price is likely to soar up to $1.26. Furthermore, Digitalcoinprice expects a bullish trend to continue, with theGRT’ss price rising to $2.5 in 2025 and up to $3.2 in 2028.

The Graph price prediction 2022

When you consider the historical performance of GRT in the cryptocurrency space, The Graph may be poised to solidify its place as a major draw among the investing public. Provided that investor confidence continues to soar, the path ahead is littered with blossoms, culminating in a significant price increase that will drive the GRT token beyond all price obstacles and reach an average price of $1.5, as predicted by our Graph price forecast. An optimistic pricing range of $1.6 to $1.7 is undoubtedly feasible with impending partnerships and developments.

GRT price forecast 2023

The Graph has built a fast, dependable network that enhances the product’s overall user experience. The network’s attributes have turned investors enthusiastic since they potentially lead to tremendous growth for the GRT in the future. By 2023, if the demand for innovative crypto ecosystems remains strong, the coin price might potentially witness a radical shift and climb as high as $1.8 to 2$.

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The Graph price prediction 2024

Numerous price predictions anticipate that GRT could approach its previous all-time high, and TradingBeasts forecast an average price of $2.23 and a maximum coin price of $2.79 by the end of 2024. However, this will only occur if and when the coin can successfully cross its previous resistance levels of $0.7505, $0.8649, and $0.9677. The Graph has a bright future ahead of it, thanks to increasing technological advancements in the ecosystem. Traders should, however, conduct their research before trading or investing in GRT.

The Graph Price Prediction 2021-2028 10

GRT price forecast 2025

The Graph is involved in several community projects and initiatives. If they maintain their momentum and amass a significant market capitalization, Digitalcoinprice predicts that GRT price levels could soar to $2.5. Consequently, according to the forecast, GRT is likely to reach a new all-time high in the next five years.

The Graph Price Prediction 2021-2028 11

The Graph price prediction beyond 2025

Cryptocurrency experts and speculators are usually more concerned about long-term investments than making a few quick bucks on a transaction. With a bit of patience, investors and enthusiasts can expect a lot of positive price actions by the end of 2026, as the deployment of The Graph continues to grow enormously. By the turn of 2026, the Graph (GRT) coin will no longer be a newcomer to the crypto market but will be a seasoned player, with its price expected to reach $5 and above.

Conclusion

As blockchain-based applications continue to increase, the more information the network needs to process and store, escalating the inadequacies facing the blockchain in terms of data querying. The Graph project has found a solution to this challenge, and end-users and developers alike can now leverage a decentralized app to obtain the desired results from blockchain indexing and querying.

Since the inception of the Graph project and GRT token, the adoption of the solution it profers has continued to drive the price of GRT. According to the above GRT price forecast, the price of GRT will rise over the next few years, with initial price drops in a few cases. While investing in GRT is an option, you should seek financial advice to determine whether or not GRT will be worthwhile for you, as well as how much to put into it.

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Generally, whether the future price movements of any cryptocurrency will be positive or negative is a subject of debate. Many factors will influence how much the cryptocurrency ecosystem grows in the future; new announcements, the crypto environment as a whole, and legal opinions – all of these apply to the Graph (GRT). 

As a trader, you’ll need some knowledge of the fundamental and technical aspects of the cryptocurrency market to accurately forecast price movements such as maximum value or minimum value based on the resistance level, past price history, trading volume, and average trading price.

FAQs

Is GRT a good investment?

Dapps like The Graph are in their infancy, and there is enormous upside potential. Its application is in high demand, and it’s being embraced by more DeFi projects. With the surge in DeFi ecosystems, the price of GRT is expected to rise, which can be seen in the Graph price actions from previous months. GRT is widely regarded as one of the year’s fastest-growing cryptocurrencies. According to multiple sources, the GRT is expected to appreciate more than 200% in the coming years.

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Additionally, given the Graph’s recent achievements, we can say that GRT is a potentially good investment. However, we would like to remind you that the cryptosphere is subject to volatility, as seen with Binance coin, Ethereum price, Bitcoin price, and other assets. Hence, this is by no means a piece of investment advice. It would be best if you did due diligence before splashing out the cash on any cryptocurrency. So, if you’re up for some volatile swings, you can go for the GRT crypto.

Where to buy and sell the GRT?

GRT can be purchased on the following cryptocurrency exchanges: Binance, Kraken, Upbit, Huobi Global, Bitcoin.com, BitPanda, FTX, and Easy Crypto. Also, it is compatible with ERC-20 wallets, and Metamask is one of such free wallets available to users. 

If, after buying GRT, you wish to HODL it for extended periods, cold storage or offline hardware wallets will come in handy.  Hardware wallets ensure that your crypto holdings are not susceptible to online threats; the Ledger Nano X or Ledger Nano S wallets both support GRT.

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The EU, the United Kingdom, and other countries have shown support for the Graph project. Thus, more traders will be able to take part in and benefit from GRT trading.

Is the Graph crypto coin legit or a scam?

With the rising level of memes, hit-and-run schemes, and projects in the cryptocurrency ecosystem, it has become essential to question the validity of a utility or token. The legitimacy of a cryptocurrency or project, in general, is tied to its road map, real-world use cases, demand & supply, and level of adoption.

The Graph (GRT) is proferring solutions to real-life data querying problems on the blockchain and has continued to gain massive traction in the DeFi space while also engaging new partnerships and upgrading its offerings. Also, the Graph issues reward to participants on the network using its utility – GRT. 

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So, is GRT legit or a scam?

Like Ethereum and other legit blockchain-based networks, the Graph is genuine, and its native token, GRT, is a fair coin. You can visit the official website of the Graph for more information.

Will GRT coin attain $1 soon?

GRT coin is one of the most actively traded cryptocurrencies, and it has maintained its upward trend for some time. If trading sentiments favor GRT, it may break through its previous resistance level and reach as high as $1. Of course, if the bulls tend this cryptocurrency, this is a very likely scenario, even in the short term. Again, this is not investment advice; always do your research.

Can GRT be mined?

GRT cannot be mined, and the system leverages the Proof-of-Stake consensus algorithm.

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The Graph

The Graph Price Prediction: GRT stares at 70% upswing after breaching crucial level

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  • The Graph price sliced through the $0.974 resistance barrier, hinting at a move higher.
  • GRT will face a major headwind around $1.255, but shattering it will open the path to $1.675.
  • A breakdown of the $0.760 support level will invalidate the bullish thesis.

The Graph price showed a strong move that shattered a crucial resistance level on August 20. This ascent could be a precursor to further gains in the near future.

The Graph price contemplates a new swing high

The Graph price rallied nearly 70% since August 9. However, its recent run-up on the daily time frame pushed through the $0.974 resistance level. If this daily candlestick closes above the said barrier, it will serve as initial confirmation of a new uptrend’s start. 

In such a case, GRT will likely retest $0.974 or continue its ascent to the immediate supply ceiling at $1.255. If the bid orders push the Graph price to produce a decisive close above the said level, it will open the path to $1.675.

If such a move were to occur, it would represent a 72% upswing from $0.974.

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GRT/USDT 1-day chart

GRT/USDT 1-day chart

While the upswing seems reasonable, investors need to watch out for bulls’ exhaustion. Such a development might happen after The Graph price retests the $1.255 resistance level. If bulls fail to follow through, there is a high chance GRT might continue to head lower and, in some cases, retest $0.974.

If the buyers fail to make a comeback, GRT could head as low as $0.761, a breakdown of which will invalidate the bullish thesis. This move could trigger profit booking among panicking investors, pushing GRT to the next stable support level at $0.645.

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