The Graph price analysis: Bears pull GRT below $0.901 amid seesaw price strides


TL;DR Breakdown

  • The Graph price analysis shows bears have successfully taken the price down.
  • A 4.66 percent drop is observed in price today.
  • Bulls are trying hard to preserve the support of $0.855.

The Graph price analysis reveals a significant change of direction in the upward price trend. Since the start of August 2021 price went as high as $1.07, but bears have successfully broken the momentum, and GRT/USD lost 10.27 percent of value in the last week.

As the weekly analysis is mostly bearish, however, chances of a bullish move still exist as the overall volatility decreases for the cryptocurrency, and bulls are on the lead again at the time of writing.

GRT/USD 1-day price chart: Bearish attitude evident as price falls to $0.901

In the 24 hours The Graph price analysis chart, the bulls and bears are trying to compete by making a yoyo price trend, but bears are clearly defining the direction, as is evident by more red candlesticks in the last few days.

The price is $0.901 with a support level of $0.855, which bulls are trying hard to preserve. The moving average (MA) is still above the price level at $0.951, a positive sign for crypto.

GRT/USD 1-day price chart. Source: Trading view

The Bollinger bands are an essential indicator in determining a crypto asset’s future. The upper Bollinger band is at the $1.072 mark, and the lower band is at $0.759, while the Bollinger bands average is at $0.915, which is again a good sign for GRT/USD.

As we can see, the volatility is decreasing overall. The Relative Strength Index (RSI) is slightly on the decline and showing a value of 53.36.

The Graph price analysis: Bulls attempt to prevent support at $0.90

The 4-hour price chart GRT/USD reports a slow but steady bullish price movement in the last hours. Though bears dragged the price down, the slow limiting volatility and increasing hourly, Relative Strength Index (RSI) score appears to benefit bulls.

The crypto-asset price is slowly but moving up again. The resistance present at the value of $0.943 may get breached if investors came in in significant numbers, as is apparent by the Relative Strength Index (RSI), which is 46.2 and moving higher by the time.

The Graph price analysis: Bears pull GRT below $0.901 amid seesaw price strides 2
GRT/USD 4-hour price chart, Source: Tradingview

The Bollinger bands’ values are as follows: the upper band stands at the $0.942 mark, and the lower band is at $0.853, while the average is $0.900. The moving average (MA) is $0.908. The Bollinger bands average and moving average values are above the current hourly GRT/USD price level.

The Graph price analysis: Bears pull GRT below $0.901 amid seesaw price strides 3
GRT/USD technical indicators chart. Source: Tradingview

While looking at the technical indicators for The Graph price analysis, the picture is as follows: out of 26 indicators, 10 stand neutral and eight each on the buying and selling spots, which proves the scenario mentioned above: zig-zag price movement.

Whereas moving averages reflect a slightly bullish trend showing eight signals on buying side and six on the selling side while one is neutral. Talking of oscillators, only two are at the selling spot and zero at the buying side, while nine are neutral. Summarising the technical indicators signals the general trend is mostly neutral for today.

The Graph price analysis conclusion

The Graph price analysis informs that despite the past hours’ slow bullish movement, the overall bearish trend line has not turned, and the price is below the resistance mark of $0.943. Still, the circumstances are giving a signal of a possible breach of resistance might be possible.

Today’s increasing RSI score of 46.19 also shows the market sentiment towards investment in GRT/USD. Today’s bullish movement might prove beneficial for intraday traders.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions. 

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