The Graph price analysis shows a balanced sentiment. While the bulls are trying to push the price higher, the downward momentum from the bears is preventing any significant price action. There isn’t much volatility in The Graph market today.
If we look at the crypto heat map, we can see that the market is mostly in the greens. However, there is not much volatility as BTC is up by only 0.26 percent while Ethereum barely trying to stay above 1 percent. This indicates that the market is indecisive and could take either a positive or negative turn in the next few hours.
The Graph 24-hour price movement
The Graph has barely stayed above $0.1046 in the last 24 hours. This is where it experienced massive resistance and since fell before setting a new resistance at $0.1033. However, it reached its current point after bouncing back from $0.1012. So, if the bulls get exhausted, they can easily fall back to the same levels.
The RSI level on the 1-hour The Graph price analysis is not particularly painting a positive picture. It is currently touching 68, which suggests that the market is extremely overbought. Furthermore, the MACD is also in the greens, and their strength decreases slowly.
This indicates that The Graph has had its run and can easily fall below $0.104 in the next few hours.
At the same time, the overall market cap of The Graph is currently sitting at $715,951,974, which is 2.30 percent higher than yesterday. However, the trading volume has gone down by a whopping 17.05 percent. This sets the volume-to-market cap ratio at 0.04442.
4-hour The Graph price analysis: GRT/USD continues to consolidate sideways
The 4-hour chart shows that The Graph price analysis has been consolidating sideways over the last 2 days. However, the bulls are trying to force it up to the 0.1067 mark, where it set a previous high on the 4-hour chart. But would that be possible? Seems unlikely given the current scenario.
Today, the crypto market is quite indecisive. It looks like a tug-of-war, and the momentum could favor either of the sides. However, The Graph has significantly fallen over the last month as it remained consistently bearish. It is more or less dependent on the larger market’s sentiment.
The Graph price analysis: Conclusion
The Graph price analysis is somewhat balanced today, but the bulls are slowly getting exhausted. It had a short rally upwards after bouncing back from $0.1012 but is struggling to reach the $0.1162 mark again. Right now is not the best time to invest in The Graph for the short term.
While you are waiting for The Graph price analysis to take a more decisive turn, check out our list of some new coins coming to coinbase.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
