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Price activity in The Graph’s market has experienced a significant increase in volatility. Consequently, this has helped the market experience notable moves on the upside. However, it should be noted that there have been some downward corrections along the way, but the market has bounced right back. The most recent of such can be seen in the ongoing session.
The Graph Statistics:
Current GRT Value: $0.4089
The Graph Market Cap: $3,818,527,305
GRT Circulating Supply: 9,456,664,976
GRT Total Supply: 10,795,879,806
The Graph CoinMarketCap Rank: 35
Key Price Levels:
Resistance: $0.4089, $0.4200, and $0.4400
Support: $0.4000, $0.3800, and $0.3600
GRT Bulls Are Still Pushing Against Headwinds
The Graph daily market has revealed that traders have resumed gathering profits. This started after price action retreated below the green lines of the Guppy Multiple Moving Average (GMMA) lines. A sharp upside rebound occurred that sent the market back above the green GMMA lines. Afterward, the market has progressed upwards.
However, the ongoing session seems to be up against a fairly strong rejection, considering the appearance of an upper shadow above it. Nevertheless, the session retains considerable gains, while upside forces continue to engage headwinds. The lines of the Moving Average Convergence Divergence (MACD) indicator lines are converging above the equilibrium level, while the bars are now pale red. Technically, this suggests that upside forces are still in play.
The Graph Stays in Pursuit of Higher Grounds
Price activity in the GRT maintains a good stand considering market signs at this point. Here, it could be seen that the session stays above the GMMA lines despite the appearance of an upper shadow on the corresponding price candle. Likewise, the MACD lines have even more significantly converged during this market timeframe.
Consequently, this signals that upside forces are still trying to push the market higher. Even the bars of the MACD indicator lines have now vanished into the equilibrium level. This further agrees with the opinion that the market may continue, and therefore traders might still be able to utilize crypto signals with targets around the $0.4150 mark.
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