- Trader IncomeSharks has a positive outlook on The Graph (GRT) cryptocurrency.
- GRT’s value declined by 2.81% in the last 24 hours.
- GRT’s weekly performance increased by 14.63% despite recent losses.
In a recent X post, the trader and analyst, IncomeSharks, expressed his optimistic outlook on The Graph
The trader indicated that numerous other traders might soon participate in profit-realization actions for GRT. Nevertheless, he noted that these traders liquidate their positions prematurely, often lamenting the missed opportunity of doubling or tripling their profits.
In the last 24 hours, GRT bulls have experienced a downturn, with the cryptocurrency’s value declining by 2.81%. Current data from CoinMarketCap shows a 2.81% decrease in GRT’s value, trading at a rate of $0.1051.
The decrease in GRT’s value during the previous trading day mirrored the overall market downturn in the last 24 hours. Data from CoinMarketCap showed a 0.16% reduction in the cumulative market value. As a result, the total market capitalization was approximately $1.27 trillion.
Even with the loss experienced in the last 24 hours, GRT’s weekly performance still firmly stayed in positive territory. As of the time of reporting, GRT’s price had still increased by 14.63% over the previous 7 days.
Over the last 48 hours, GRT’s value had significantly dropped below the crucial $0.1045 level, although it has since rebounded. However, the potential for a short-term decline in the cryptocurrency’s price persists.
For the bearish outlook to be negated, the altcoin’s value must initially close a daily candle above $0.1045 within the forthcoming 48 hours. This could provide GRT with the necessary base to ascend to the subsequent resistance level at $0.1135 in the following days. If GRT fails to close a daily candle above this level within 48 hours, it could be exposed to a risk of depreciating to $0.0945.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
