The Graph Price Experiences A Breakout Rally, Eyes $0.30 Soon?

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With the rise in border market growth, the GRT coin price has displayed a massive upswing by adding over 24% within the past 24 hours and cumulatively adding over 61% during the past week, indicating a strong demand for the token in the market.

The Graph token traded between $0.1413 and $0.1559 for a while, following which the bulls gained just enough momentum to break out of the resistance level. After this, the GRT price traded between $0.1559 as its support and $0.1752 as its resistance for a brief nineteen days, during which the bulls displayed significant fluctuations on the chart.

TradingView: GRT/USDT

As the market volatility grew, the bulls broke out of the resistance level and gained approximately 22%, following which the price traded sideways for a while. Following multiple failed attempts, the bulls regained power and recorded a jump of 25.29% in valuation before facing rejection at $0.2298.

After testing its support level of $0.2127, The Graph token recorded a jump of 25.712% and is on the verge of testing its resistance level of $0.2757 shortly, of which the result is uncertain.

Also Read: Worldcoin Price Records 211% Jump! WLD Price To Hit $10 This Month?

Will The Graph Token Go Up?

The Relative Strength Index (RSI) constantly trades above the overbought range, highlighting massive buying pressure for the coin in the crypto market. Moreover, the averages continue to hover close to the upper limit, suggesting a bullish influence in the crypto space.

If the market pushes The Graph price above the resistance level of $0.2757, the bulls will regain momentum and test its upper resistance level of $0.30. Further, if the bulls hold the price at that level, the GRT token will prepare to test its upper limit of $0.32 in the coming time.

Negatively, if the bears overpowered the bulls, the GRT token would lose momentum and fall to test its support level of $0.2513. Moreover, if the bears continue to dominate the bulls, it will plunge and prepare to test its lower support level of $0.2298 in the upcoming week.