The Graph Token Exponential Growth Began!
The GRT price since its inception was poised to hit $1 very soon. The trade began with a monster rally, spiking more than 4700% from $0.04 to as high as $0.7874 within a couple of days of inception.
However, as the asset was strongly heading towards the target at $1, yet a plunge due to constant selling surrounded the asset. The graph token price revisited the levels close to $0.3 but luckily did not dipped to the its initial levels.
The GRT price rally is expected to hit new highs in the coming days. According to an analyst and regional director of a financial firm, JT, the graph token price is expected to move higher with the bull run of Chainlink. He also predicts that by the end of the current trading day, 1 GRT will be equal to 1/10 of Chainlink.
GRT Price Analysis
The GRT price manifested an extreme bullish momentum that began a couple of days before. The price which was attempting very hard to surpass the $1 levels from the past month, received a greater push which rallied the price to the current levels above $2.4. At the time of writing, the GRT price is $2.40 with a jump of nearly 69.68%.
The trading volume raised steadily from close to $500 million, later above $1000 million and currently settling above $3 billion. The market capitalization also witnessed a spike of nearly 72.94% attaining the levels close to $3 billion standing at $2,948,842,944.
The asset is self-assured to hit new highs very soon, and the negligible selling on the hourly chart assists the claim. Considering the technical indicators, the RSI rose from 43.75 levels to 92.69 as the price attained its ATH at $2.5. However, the RSI still remains in the overbought phase above 70.
- The current resistance levels initially are at the ATH levels at $2.5 and once these levels are broken, the GRT price may rally as high as $3 in coming hours.
- The support levels were formed initially at $1.88. If in case, it fails to hold, the next strong support levels are formed below $1 at $0.9
- The technical indicators point out a ‘buy’ signal.