The Graph is eyeing a good breakout in the charts. GRT helps in facilitating web 3.0 by enabling data access and queries.
In this article we will have a look at the price prediction of GRT and the weekly price analysis and news roundup.
GRT Price Prediction
The current price of GRT stands at $0.1504 and the crypto is up 4% in 1 day. The current fully diluted market cap stands at $1.6bn and 24 hour volume stands at $55mn. Let’s take a look at the price chart below:
In a 2-hour time frame, the price has broken the resistance trendline of the descending triangle and also retested successfully an upward movement is expected from here.
The crypto market is also showing a good overall uptrend, so we expect the breakout to sustain for some time.
GRT is part and native token of The Graph ecosystem, which is used for paying fees, staking, and governance
Weekly Price Analysis:
GRT started strong in this week, breaching the $0.15 level on November 27, 2023. GRT peaked at $0.165 on November 28, gaining attention and support.
Despite facing resistance at $0.165, GRT bounced back from the $0.14 level on November 30, finding support from the 50-day moving average and the rising trendline. The week closed with a modest 0.89% gain, settling at $0.149 on December 1, 2023.
The RSI stands at 68 which highlights a strong buying interest from the buyers.
News Roundup
- InsideBitcoins featured The Graph on November 24, highlighting its potential as the Google of Web 3.0.
- AltSignals praised The Graph on November 21, comparing it favorably to other AI-based cryptos.
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