The Graph (GRT) is a protocol that powers indexing and querying data from Ethereum and IPFS. Similar to Google, as Google indexes web data, the graph indexes data from Ethereum. The data is mined and then compiled into a group called a subgraph, which anyone can query. The GRT technical analysis is as follows: Past Performance On June 9, 2021, GRT opened at $0.69. On June 15, 2021, GRT closed at $0.72. Thus, in the past week, the GRT price has increased by approximately 4.34%. In the last 24 hours, GRT has traded between $0.68-$0.75. Thus, indicating high volatility in the market. https://ift.tt/2TDn6Cc Day Ahead And Tomorrow Currently, GRT is trading at $0.73. The price has increased from the day’s opening price of $0.70. Thus, the market seems bullish. The MACD and signal lines are in the positive zone. Moreover, a bullish crossover by the signal line over the MACD line has occurred. Thus, the overall market momentum is bullish. Hence, the price may rise further. Currently, the RSI indicator is at 61.89%. It faced rejection at 45.69% and rose to this level. Thus, buying pressures are slowly mounting for GRT. We have to wait and watch if buying pressures become strong enough to bring about a bearish trend reversal. On the 45-min chart, the OBV indicator is trending upward. Thus, buying volumes are higher than selling volumes. In case of a trend reversal, high selling activity will exert downward pressure on the GRT price. In short, when we look at all three oscillators, we can say that the price may continue to rise. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend. GRT Technical Analysis Currently, the price is below the second Fibonacci pivot point of $0.74. If the bears remain strong till day end, then the price is likely to fall below the first, second, and third support levels of $0.71, $0.68, and $0.64, respectively. The price is trading below the 38.2% FIB retracement level of $0.75. It may soon fall below the FIB retracement level of $0.71. Thereafter, we have to wait and watch if the price retests and breaks out of these levels. In that case, the price upswing is likely to continue tomorrow as well. However, on the upside, if the resistance of level $0.752 is broken, it will highlight the next resistance at $0.78. That can be kept as the target for the long call.
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