The Graph (GRT) Breaks out From 223-Day Resistance Line After Generating Bullish Divergence

The Graph (GRT) Breaks out From 223-Day Resistance Line After Generating Bullish Divergence
фото показано с : beincrypto.com

2022-7-19 22:00

The Graph (GRT) has increased only incrementally in July but is showing preliminary signs that often precede sharp upward movements.

GRT had been decreasing underneath a descending resistance line since Nov. 2021. The downward movement led to a low of $0.089 in June 2022. 

However, the price bounced shortly afterward and broke out from the line after five days. At the time of the breakout, the line had been in place for 223 days. Despite the breakout, it did not initiate any sort of significant upward movement and has been hovering close to $0.1 since.

The closest resistance is at $0.36. This is a horizontal resistance area that had previously acted as support. If the price is successful in moving above it, the next resistance would be at $0.54, created by the 0.382 Fib retracement resistance level.

GRT/USDT Chart By TradingView Ongoing breakout

A closer look at the daily time frame supports the possibility of GRT initiating a very significant upward movement. There are two main reasons for this, both of which relate to the RSI. 

The indicator has been generating bullish divergence over the past two months (green line). Furthermore, it has now moved above 50 (green icon). By doing so, it also completed a swing high pattern, which further increases the legitimacy of the bullish divergence. So, it is possible that the price will soon initiate a significant upward movement.

GRT/USDT Chart By TradingView Short-term GRT movement

Cryptocurrency trader @isli_Stallard tweeted a chart of GRT, stating that the price could increase all the way to $0.27.

Source: Twitter

The six-hour chart also provides a bullish outlook, since it shows that the price has broken out from a descending wedge. The wedge is considered a bullish pattern, meaning that a breakout from it is the scenario that most often transpires. Furthermore, the RSI has moved above 50 in what is also considered a sign of a bullish trend. 

However, there is minor resistance at $0.125 prior to the $0.27 area outlined in the tweet.

GRT/USDT Chart By TradingView

For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here

The post The Graph (GRT) Breaks out From 223-Day Resistance Line After Generating Bullish Divergence appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

UniGraph (GRAPH) на Currencies.ru

$ 6.7986 (+2.07%)
Объем 24H $0
Изменеия 24h: 13.81 %, 7d: 16.67 %
Cегодня L: $6.7986 - H: $6.7986
Капитализация $0 Rank 3736
Доступно / Всего 0 GRAPH / 100k GRAPH

graph grt generating line divergence bullish breaks

Источник: beincrypto.com

graph grt → Результатов: 35


Indexing and Querying Protocol, The Graph (GRT), Launches A Micro-Transaction Solution, Scalar

The Graph, a decentralized indexing and query protocol, announced the launch of Scalar, a micro-transaction scalable solution for fast and cheap fees on the network. Announced Wednesday, Scalar, built on the Connext Vector protocol, will provide micro-transaction solutions on The Graph network to reduce the fees and increase scalability when querying on the protocol.

2021-4-23 22:24


Coinbase открыла резидентам Нью-Йорка доступ к DeFi-токенам

Криптовалютная биржа Coinbase разрешила резидентам штата Нью-Йорк осуществлять операции с рядом DeFi-токенов, в том числе Aave, Uniswap и yEarn. Finance. Aave (AAVE), Balancer (BAL), Band Protocol (BAND), Bancor (BNT), Compound (COMP), The Graph (GRT), Loopring (LRC), Maker (MKR), Ren (REN), Synthetix (SNX), Uniswap (UNI), Wrapped Bitcoin (WBTC) & https://t.

2021-3-2 13:06


Фото:

Запущен мейннет проекта The Graph

Команда The Graph объявила о запуске децентрализованного протокола индексации данных в основной сети Ethereum. О листинге нативного токена криптопроекта GRT объявили три крупные биржи.

2020-12-19 11:19


Фото:

Создатели The Graph запустили основную сеть. Токен появился на Binance, Coinbase и OKEx

Команда The Graph объявила о запуске децентрализованного протокола индексации данных в основной сети Ethereum. О листинге нативного токена криптопроекта (GRT) объявили три крупные биржи. The Graph Network is officially live! People all over the world are coming together to build a vibrant decentralized future on top of crypto networks.

2020-12-18 12:59


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Top 5 DeFi Coins For July

This article will take a look at five cryptocurrencies in the decentralized finance (DeFi) sector. 

The post Top 5 DeFi Coins For July appeared first on BeInCrypto.

Will GRT Finally Break Out?

Despite the ongoing decrease, GRT has broken out from a descending wedge. It has likely begun an upward movement which could potentially take it all the way to $4. Descending Wedge GRT has been moving downwards since Feb.

Five Biggest Altcoin Gainers From Feb. 8 – Feb. 15

During the week of Feb 8 -15, these five altcoin picks rallied the most: Bitcoin Gold (BTG) – 125% Ravencoin (RVN) – 125% DASH (DASH) – 124% The Graph (GRT) – 113% Lisk (LSK) – 109% Biggest Altcoin Gainers BTG has increased considerably over the past two weeks but has yet to move above an … Continued The post Five Biggest Altcoin Gainers From Feb.

GRT Reclaims Support and Aims for $0.47

Reclaim of Support GRT has been moving downwards since Dec. 20, when it reached a high of $0. 783. On Dec. 26, it reached a low of $0. 32 and initiated a bounce, which was short-lived. The ensuing decline took GRT to a low of $0.