The GRT price began the monthly trade with a healthy consolidation just below the pivotal levels at around $0.39.However, the asset gained a huge influx of buying volume in the past couple of days which uplifted the price above the accumulation. Currently, the GRT price has broken the pivotal levels and continues to maintain a significant uptrend.
The price may continue to rise higher and eventually smash the immediate resistance close to $0.5. Here, if the asset holds strong above these levels, then the rally may continue to surge high to test the next resistance at around $0.8. As these levels are untouched for quite a long time, the probabilities of liquidations are slightly higher. Therefore, the asset may close the monthly trade in between $0.5 to $0.7 levels.
The Graph token maintained a significant descending trend ever since the asset marked its bull run in Q4 2021. After a prolonged descending consolidation, the asset finally broke up and ignited a strong uptrend. The uptrend may continue until the monthly close and eventually ignite a notable bullish trend later.
One can expect a notable bullish trend to continue further where-in the GRT price may aim to secure positions above $1 initially. Further continuing the bullish trend, the asset may even try to rise beyond the ATH to reach the $1.5 milestone too. However, here it could face an interim pullback, followed by a minor consolidation. Yet the bullish trend could prevail but $5 in 2022 may not be achievable following the current pace.
Additional Read: The Graph Technical Analysis
|Date||All-Time High||All-Time Low||Market Capitalization|
|15 March 2022||$0.4370||$0.3513||$2.02B|
|14 March 2022||$0.3773||$0.3263||$1.68B|
|13 March 2022||$0.3600||$0.3161||$1.64B|
|12 March 2022||$0.3282||$0.3177||$1.52B|
|11 March 2022||$0.3395||$0.3159||$1.52B|
|10 March 2022||$0.3474||$0.3167||$1.51B|
|09 March 2022||$0.3649||$0.3349||$1.61B|
The Graph and Fantom are the two popular DeFi tokens that are undergoing huge rallies at the moment. Both decoupled from the market’s consolidated trend and spiked extremely high displaying the possibility of hitting ATH soon. However, the present-day trend is slightly bearish and may be overcome very soon.
Both the assets maintained a decent trend from the beginning of February 2022 until the monthly close. The current month’s trade began with a huge bearish trend for the FTM price as the asset dropped massively. However, both are maintaining a decent uptrend for the past couple of days. But FTM price is below the average levels by 41.43% whereas GRT is above by 9.32%.
Additional Read: What is DeFi?
Unlike many other platforms, GRT/USDT is displaying huge strength compared to that of the BTC pair. Ever since the beginning of last month’s trade, the USDT pair maintained a significant uptrend. Moreover, the uptrend has intensified to a large extent over the past couple of days.
Therefore, the possibility of the asset achieving the immediate resistance levels is pretty high. Currently, the GRT/USDT pair is above the average levels by more than 10% whereas the BTC pair is just below by 0.36%.
Ethereum SubGraphs Migrate to the Decentralized Graph Mainnet
The Subgraphs are nothing but API which are now migrated from Ethereum to The Graph mainnet. More than 280 have been migrated and many more are in process.
The Graph Foundation Rolls Out Graph-Grants
The Graph grants provide funds to the interested parties as they migrate to the decentralized mainnet.
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