Issued on: 31th May’23
Valid upto: 06th Jun’23
Token: GRT
Category: Infrastructure
Market Cap: $1,212,211,308
Circulating Supply: 8,995,803,949
Total Supply: 10,667,537,646
Price Update: The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. GRT price at the time of writing (31th May, 17:15) is $0.134 with 24-hour trading volume of $76,510,102. GRT price is up by 3.2% in the last 24 hours according to coinmarketcap.com.
Source: Tradingview
Analyzing the above chart:
- GRT has been on the upwards rally for the past 24 hours.
- Conducting Elliott Wave Theory (EWT), the wave 2 was retraced 0.618 fib levels, and currently wave 3 is ongoing.
- It is also moving in the zone manner, where current resistance levels are at $0.136, and if exceeded, then next higher resistance is forming at $0.152
- A Long Trading strategy can be assessed between $0.124-$0.132 with invalidation below $0.12.
- On the upside, one can see a rise of 10-12% towards $0.145 as first level and if markets turn more bullish we can also see moving towards $0.16.
- It would seem that one should maintain a balanced risk to reward ratio and check use of leverage and position size to ride out current market conditions.
Note: GRT is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade GRT in Futures Market at CoinDCX
Trade GRT in Futures Market at CoinDCX Pro
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
