- After a 9% dip last week, The Graph (GRT) is gaining momentum, up 12.16% in the past 24 hours.
- Bitcoin’s rise above $100,000 is driving market enthusiasm, benefiting assets like GRT.
- GRT is forming a bullish flag pattern, with key resistance levels at $0.36, $0.50, and $1.00.
The Graph (GRT) is showing promising signs of a significant upward move, capturing the attention of crypto investors. After experiencing a dip of nearly 9% in the past week, the digital asset is now erasing its losses and shifting towards gains.
This positive price action comes as the broader crypto market is fueled by renewed optimism, sparked by Bitcoin’s recent surge. BTC’s impressive climb above the $100,000 mark has brought fresh enthusiasm to the space, and GRT appears to be riding this bullish wave as it sets its sights on higher price targets.
At the time of writing, The Graph is trading at $0.296736, with a 24-hour trading volume of $332.48 million. The asset boasts a market capitalization of $2.83 billion and a market dominance of 0.08%. GRT has gained 12.16% in the last 24 hours, signaling a strong recovery and an upward momentum.
Tether Moves $972M to Exchanges, Boosting Market Liquidity
According to data from Lookonchain, a massive influx of capital is flowing into the crypto space, adding fuel to the fire. In the past 24 hours alone, $972.6 million worth of USDT has moved from Tether’s treasury to exchanges, indicating a surge in buying activity. This influx is likely to have a direct impact on assets like The Graph, which benefits from increased market liquidity and investor attention.
The Graph (GRT) Forms Bullish Flag, Eyes $1.00 Surge
From a technical perspective, The Graph has maintained a bullish market structure since early 2023, consistently marking higher highs and higher lows. This trend has positioned GRT in a strong place to continue its upward trajectory. Recent price action suggests that GRT is forming a bullish flag pattern, a classic technical signal often followed by a breakout to higher levels.
If this pattern holds, the next key resistance levels to watch are at $0.36, $0.50, and the all-important $1.00 mark. A breakout past these levels could lead to significant gains for GRT as it rides the current market wave of optimism.
As the broader crypto market shows strength, The Graph is positioning itself for a potential surge towards $1.00. Investors are keeping a close eye on the asset’s performance, with many believing that GRT’s unique value proposition as a decentralized data indexing protocol will continue to attract attention. With a solid technical foundation and the wind of market optimism at its back, GRT seems primed for further upside in the coming weeks.
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