The Graph (GRT) Price Prediction 2023 — Will GRT Hit $0.5 Soon?
- Bullish GRT price prediction is $0.1088 to $0.2628.
- The Graph (GRT) price might also reach $0.5 soon.
- Bearish GRT price prediction for 2023 is $0.0536.
In The Graph (GRT) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about GRT to analyze the future movement of the cryptocurrency.
The Graph (GRT) Current Market Status
| Current Price | $0.06001 |
| 24 – Hour Trading Volume | $15,801,014 |
| 24 – Hour Price Change | 1.33% up |
| Circulating Supply | 8,725,551,087 |
| All – Time High | $2.84(On February 12, 2021) |
What is The Graph (GRT)?
The Graph (GRT) is the native crypto token of the Graph, a decentralized indexing and query protocol. It was launched as an ERC-20 token on Ethereum in late 2020.
The Graph enables users to query and retrieve data from blockchains such as Ethereum, Inter Planetary Film System (IPFS), POA, and Binance Smart Chain using GraphQL APIs. The network comprises four classes of participants: indexers, curators, delegators, and curators.
Use cases of GRT vary among these roles as well. Indexers, delegators, and curators stake GRT tokens and earn those as rewards in return for their contributions. While consumers would pay GRT tokens to retrieve the data.
The Graph (GRT) Price Prediction 2023
The Graph (GRT) holds the 76th position on CoinGecko right now. GRT price prediction 2023 is explained below with a daily time frame.
The above chart of The Graph (GRT) laid out a Descending Channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
Currently, The Graph (GRT) is in the range of $0.06001. If the pattern continues, the price of GRT might reach the resistance levels of $0.0898 and $0.2094.If the trend reverses, then the price of GRT may fall to $0.0566.
The Graph (GRT) Support and Resistance Levels
The chart below shows the support and resistance levels of The Graph (GRT).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for The Graph (GRT).
| Resistance Level 1 | $0.1088 |
| Resistance Level 2 | $0.1771 |
| Resistance Level 3 | $0.2628 |
| Support Level | $0.0536 |
The charts show that The Graph (GRT) has performed a bullish trend over the past month. If this trend continues, GRT might run along with the bulls overtaking its resistance level at $0.2628.
Accordingly, if the investors turn against the crypto, the price of The Graph (GRT) might plummet to almost $0.0536, a bearish signal.
The Graph (GRT) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of The Graph (GRT) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of GRT lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of The Graph (GRT) is shown in the chart above. Notably, The Graph (GRT) price lies below 50 MA (short-term), so it is completely downward. Currently, GRT has entered a bearish state. Therefore, there is a possibility of a reversal trend of GRT at any time.
Meanwhile, the relative strength index (RSI) of the GRT is 48.89. This means that The Graph (GRT) is neither in an oversold or overbought state. However, this means a major price reversal of GRT may occur in the upcoming days. So, traders need to trade carefully.
The Graph (GRT) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of The Graph (GRT). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of The Graph (GRT). Currently, the ADX of GRT lies in the range of 18.49 and thus, it indicates a weak trend.
The above chart also represents the Relative Volatility Index (RVI) of The Graph (GRT). RVI measures the constant deviation of price changes over a period of time. The RVI of GRT lies above 50, indicating high volatility. In fact, the RSI of The Graph (GRT) is at 48.89 thus confirming a potential sell signal.
Comparison of GRT with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and The Graph (GRT).
From the above chart, we can interpret that the price action of GRT is opposite to ETH and BTC. This indicates that when the price of BTC & ETH increases GRT decreases and if the prics of BTC & ETH decreases GRT decreases.
The Graph (GRT) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of The Graph (GRT) between 2024 and 2030.
The Graph (GRT) Price Prediction 2024
With several upgrades in the network, The Graph (GRT) might enter a bullish trajectory. If the coin grabs the attention of major investors, GRT might rally to hit $1.2 by 2024.
The Graph (GRT) Price Prediction 2025
If The Graph (GRT) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, GRT would rally to hit $1.7.
The Graph (GRT) Price Prediction 2026
If The Graph (GRT) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, GRT would rally to hit $2.3.
The Graph (GRT) Price Prediction 2027
If The Graph (GRT) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, GRT would rally to hit $2.9.
The Graph (GRT) Price Prediction 2028
If The Graph (GRT) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, GRT would hit $3.5. in 2028.
The Graph (GRT) Price Prediction 2029
If investors flock in and continue to place their bets on The Graph (GRT), it would witness major spikes. GRT might hit $4.3 by 2029.
The Graph (GRT) Price Prediction 2030
With greater advancements in The Graph ecosystem, the crypto community might continue to invest in GRT for the next 8 years and drive significant price rallies for the token. Hence, The Graph (GRT) might hit $5 by 2030.
Conclusion
With continuous improvements in the The Graph network, we can say that 2023 is a good year for GRT. For this reason, the bullish price prediction of The Graph (GRT) in 2023 is $0.2628. On the other hand, the bearish price prediction of The Graph (GRT) price prediction for 2023 is $0.0536.
Furthermore, with the advancements and upgrades to the The Graph ecosystem, the performance of GRT would help to reach above its current all-time high (ATH) of $2.84 very soon. But, it might also reach $0.5 if the investors believe that GRT is a good investment in 2023.
FAQ
The Graph (GRT) is the native token of The Graph, a decentralized indexing and query protocol. It was launched as an ERC-20 token in 2020.
The Graph (GRT) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, OKX, Gate.io, and WhiteBIT.
With the ongoing developments and upgrades within the Graph platform, GRT has a high possibility of reaching its ATH soon.
On February12,2021 The Graph (GRT) reached its new all-time high (ATH) of $2.84.
The Graph (GRT) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of The Graph in the past few months, GRT is considered a good investment in 2023.
The Graph (GRT) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then The Graph (GRT) will hit $0.5 soon.
The Graph (GRT) price is expected to reach $1.2 by 2024.
The Graph (GRT) price is expected to reach $1.7 by 2025.
The Graph (GRT) price is expected to reach $2.3 by 2026.
The Graph (GRT) price is expected to reach $2.9 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/the-graph-grt-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
