Crypto Technical Analysis

The Graph Token(GRT)/USDT Technical Analysis: 28 January 2022

The Graph Technical Analysis

The Graph token right from its inception showcased an active rally, with minimum consolidation and maximum price volatility. The asset quickly gained huge attention with a single-day spike of more than 75% followed by yet another 50% jump to hit the ATH in the first few days of February 2021. Ever since then the bears became proactive and initiated to flush out their profits at a greater pace. 

Despite the bulls giving a tough fight, the selling volume kept on accumulating at regular intervals which compelled the price to drain out as on time. During the mid of Q4 2021, many tokens led another gigantic rally when Bitcoin price smashed new ATH. However, GRT prices remained relatively less impacted that could not escort the price even though the half of its ATH.  Currently, plunging at rocket speed, the asset is still expected to rebound vigorously. 

Additional Read: Daily Crypto News 28th January, 2022

The Graph Token(GRT)/USDT Technical Analysis at a Glance

The Graph token began the yearly trade of 2022 on a notable bearish note with the prices sliding through a descending channel. The descending trend began a couple of months before the beginning of 2022 which was further continued. However, after the recent crash, the asset lost the important support levels of $0.5 and is now on the verge of losing yet another crucial support of $0.4. 

Short-Term After a gigantic fall, the GRT price is attempting to recover the losses by maintaining a silent uptrend
Mid-Term The buying volume appears accumulated and hence a fair uptrend may be continued until the asset reaches the local resistance
Long-Term On the contrary, in the long term, the GRT price manifest a bearish trend, where the price could continue to follow a descending consolidation within a narrow range

The Graph Token(GRT) Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action(1Hr / 1D)
Relative Strength Index(RSI)  57.36 / 29.9 Buy / Sell
Average Directional Index(ADX)(14) 14.55 / 30.37 Buy / Sell
Ultimate Oscillator 62.5 / 51.7 Buy / Buy
Bull-Bear Power(13) 0.0155 / -0.0933 Buy / Sell

Pivot Levels

Pivot Levels Short-Term Long-Term
Moving Average(MA)-50 $0.4080 $0.5984
Moving Average(MA)-200 $0.4301 $0.7695
Resistance $0.4318 $0.7665
Support $0.3850 $0.2774

Additional Read: The Graph GRT Price Prediction

Summary

The Graph token in the short term is extremely bullish whereas in the long term the asset is expected to plunge hard. The RSI, which showcases whether the asset is in the overbought or oversold levels, despite being in the middle levels in the STF, possesses its tendency to move towards the north. Whereas in the short-term, the RSI has bottomed hard almost hitting the oversold levels and primed for a strong flip very soon. 

Also, the Average Directional Index(ADX) which shows the strength of the rally points out towards a weak or no strength in the rally in STF whereas in the HTF it manifests a strong trend. Ultimate Oscillator considers three moving averages, i.e. 7, 14 & 28 to determine the next plot of the rally. 

The indicator is almost at similar levels in both the time frames and hence currently showcasing a bullish divergence that may flip further. Lastly, bull-bear power showcases the strength of bulls currently while in the long term, bears may thrive.

Now landing to the pivot levels, the GRT price currently, is just above one of the important support levels at the 50-day MA. The rally is expected to surge high to hit the immediate resistance which also falls along with the 200-day MA at $0.43. Clinching these levels may point towards a trend reversal but a notable uptrend may be validated only after the asset crosses the crucial resistance at $0.5 to hit the 50-day MA in HTF at $0.59.

The Graph Token(GRT) Technical Analysis for the Week

The GRT price began the current week’s trade on a huge bearish note such that the price smashed the lower levels at $0.34. However, the buyers quickly jumped in and uplifted the price above $0.4. A huge fight between the buyers and the sellers was witnessed a couple of days before on 27 January when the price reached as high as $0.4741 but the daily close was around $0.4257. Further, the price tanked a little but somehow managed to recover some of its losses with a minor accumulation of buying pressure.

Source: Tradingview Date:28-01-2022 Time: 11:20am

  • The GRT price in the past couple of days has been trading below the strong support-flipped-to-resistance zone
  • After the rejection from these levels, the asset has halted the downtrend with a healthy consolidation and utilized all its resources to bounce back
  • A slight pile-up of buying is witnessed after a week-long selling that may not certainly assist the price to regain lost levels but may surely prevent further decline of the price
  • However, the indicators point out towards the apex of the consolidating downtrend and hence a strong flip may be awaited in the upcoming weekend

The Graph Token(GRT) Technical Analysis for Today: 28 January 2022

The GRT token began the previous day trade on a notable bearish trend which could stabilize in the later hours of trade. Despite a couple of accumulated selling volumes, the asset managed to overcome the losses since the early trading hours. No doubt the trading volume is pretty less, yet the platform can gather enough buying volume to keep up the uptrend. 

But currently, the selling volume has not intensified, therefore before it does so, a huge influx of liquidity is required to be inducted into the platform. And hence in the later hours of trade, one can expect a notable upturn to be continued and attain the immediate resistance at the earliest. 

The Graph token price at the press time is $0.4147 with a notable jump of more than 7% compared to the previous day’s close. However, the trading volume remain dropped by more than 26% signifying the absent selling volume. On the other hand, market capitalization has increased by nearly 7% recording levels close to $2 billion.

Where & How to buy The Graph Token(GRT)

Investing in the popular DeFi tokens like The Graph, Chainlink, Uniswap, Terra, Avalanche, etc is very easy on CoinDCX. We offer the best trades in the market, with loaded features at a very affordable price. Registering with CoinDCX is a simple task involving 3 simple steps,

  • Download CoinDCX App on your Smartphone
  • Register filling the required details 
  • On verification, fund your wallet and invest in your favorite cryptocurrency

Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

Share this Story

Check Also

Bitcoin Technical Analysis: Is BTC Price Heading to Form New Lows Below $14K?

Bitcoin price is largely stuck within a bearish trap and hence a notable descending trend may prevail for long.

GET ALL LATEST UPDATES ON YOUR EMAIL





    Categories

    Invest in Bitcoin, Ethereum, & other 200+ crypto assets.
    Download the app now, register & start with as low as Rs.100
    ios download link
    android download link
    qr code for download