Amidst a renewed bull market, The Graph (GRT) has surged by 90% in less than a month, hitting its highest levels since May 2022. Now eyeing the crucial resistance at $0.30, GRT's resilience above the 100-day Exponential Moving Average (EMA) hints at further upward potential.
Amidst a resurgence in the bull market, The Graph (GRT) has surged to a new high, signaling a dramatic turnaround.
Starting off 2024 on shaky ground with a 38% decline in the initial three weeks, GRT swiftly reversed its course, catapulting upwards by an impressive 90% in less than a month. This surge propelled the cryptocurrency to its loftiest levels since May 2022.
Chart by TradingView
GRT Next Target
Looking ahead, GRT appears poised to challenge its current resistance at $0.30, a level that served as pivotal support throughout the first half of 2022. Should GRT successfully breach this barrier, the next target lies at $0.50, representing a potential 100% surge from its current position—a common occurrence in the dynamic realm of crypto markets.
Of course, much hinges on the trajectory of Bitcoin, the bellwether of the cryptocurrency sphere; historical patterns dictate that when Bitcoin ascends, altcoins like GRT tend to follow suit, and vice versa.
Furthermore, the 100-day Exponential Moving Average (EMA) has emerged as a notable dynamic level, providing both support and resistance. GRT has managed to sustain its position above the 100 EMA since October 2022, underscoring its resilience and bullish momentum.
Bottom Line: The Graph (GRT) appears primed for further upside, with initial targets set at $0.30 and potentially extending to $0.50 should current momentum persist.
Start automated trading on Cryptohopper today and enjoy a 3-day free trial!
_webp.webp)
_webp.webp)