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- The GRT crypto price is facing rejection at breakout levels.
- The market cap rank of the Graph crypto is #46 as per Coingecko.
The Graph (GRT) is a protocol that allows dApps to access data from multiple blockchains. It was launched in 2018 by a team led by Yaniv Tal and Jannis Pohlmann.
GRT is the governance token of The Graph network, which rewards users for indexing and querying blockchain data. The Graph is used by many popular dApps.
The Graph crypto is trading with a decline of 57% in its derivatives trading volume and its open interest has also declined by 11.2%. This has resulted in a traded volume of $133.57 Million for the derivatives.
The spot trading volume of the Graph has also declined by 34% and the market cap has also declined by 11.2%. Moreover, the current market cap of GRT is worth $1.736 Billion.
The volume/market ratio of the Graph crypto is 0.0486 and it has witnessed a long liquidation of $139.40K in the last 24 hours. This has resulted in a long/short ratio of 0.9681. Also, the market cap dominance of the Graph is 0.109% in the global cryptocurrency market.
The Graph Token Overview
The max supply of the Graph crypto is undefined while the circulating supply is 9.363 Billion GRT. Also, the total supply of the Graph is 10.792 Billion GRT and the fully diluted market cap of the crypto is $2.021 Billion.
Moreover, as per Etherscan.io, the current number of crypto holders is 150,274 and the number of total transfers is 1.844 Million.
GRT Crypto Technical Analysis
The GRT crypto price is slowly rising to higher levels after witnessing a decline of more than 90% from its all-time high price. The GRT crypto has a very crucial resistance level at $0.2300.
Therefore, if the trading price of the GRT crypto breaks above the given level, it will result in a change of character to bullish and lead to a breakout above a strong resistance level.
GRT/USD Chart by TradingView
A majority of the indicators on the daily chart of the GRT crypto are giving a bullish signal.
The Rolling VWAP of the GRT crypto is consistently rising to higher levels, and the crypto price is trading above the VWAP. Moreover, the price of the crypto has also moved above the 50-day and the 200-day EMAs and the EMAs are forming a golden cross on the charts.
The RSI moreover, following a bullish cycle is trading inside a small range revolving around the RSI line is revolving around the 14-day SMA.
Conclusion
The Graph (GRT) is a protocol that allows dApps to access data from multiple blockchains. The GRT crypto price is approaching a key resistance level of $0.2300, which could trigger a bullish breakout. The technical indicators are also positive and suggest that GRT has a strong potential to rise.
Technical Levels
Support Levels: $0.0550 and $0.1480
Resistance levels: $ 0.5200 and $0.7800
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
