07 December 2022 : In this article we will walk you through The Graph price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for The Graph, Is GRT a good investment? The Graph support & resistance levels etc. But before diving deep into the GRT technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $841,911,813,910. The total trading volume stands at $37,293,480,282. Bitcoin shares 38.51 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,865.76 level after a decline of -1.22%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -2.89 percent reaching to $1,233.61 during the previous 24 hours.
While publishing this blog, BNB traded at $284.63, following a price change of -1.94%within the same time frame. XRP the native coin of XRP is down by -2.06 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -4.31% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of The Graph (GRT)
|GRT Resistance Levels||GRT Support Levels|
|Resistance Level 1||$0.092||Support Level 1||$0.080|
|Resistance Level 2||$0.097||Support Level 2||$0.074|
|Resistance Level 3||$0.10||Support Level 3||$0.069|
The price of The Graph (GRT) is at $0.062, down -3.74% in the past 24-hours and has a price change of -4.73% over the week. One day trading volume for BTC is 14,702,969.00 USD while total marketcap reached $426,112,033.00 USD. There are almost 6,900,000,000 are in circulation out of 10000000000.
GRT price analysis for 07 December 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the The Graph.
|Simple Moving Average (10)||0.088||Sell|
|Exponential Moving Average (10)||0.088||Sell|
|Simple Moving Average (20)||0.093||Sell|
|Exponential Moving Average (20)||0.092||Sell|
|Simple Moving Average (50)||0.10||Sell|
|Exponential Moving Average (50)||0.100||Sell|
The Relative strength index (RSI) for GRT Coin is currently hovering at 14 for 14-days average line, which means GRT is in oversold zone and a trend reversal is possible. While GRT’s Williams %R indicator is at -69.708 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The GRT/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. The The Graph has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take GRT price below the crucial support level of $0.080.
The Graph is now experiencing a significant bearish trend, this does not necessarily imply that the cryptocurrency is in any type of precarious situation that cannot be rectified. Even if the price is falling steadily, it is anticipated that the two support levels will serve as strong barriers and cause the trend line to rebound back into the positive zone.