Graph Is Sending Negative Signals
The Graph (GRT) is down 8.5% this week, trading at $0.1600, and is currently underperforming the broader market, with Bitcoin (BTC) also experiencing a decline of 3.2%, settling at $62,400. GRT has struggled to break through the resistance at $0.1750, which aligns with its downtrend. This failure to surpass resistance is a bearish signal, as the altcoin is now retreating towards the $0.1500 support level.
The Graph is primarily buoyed by its updates, which provide some positive momentum. However, if prices hit the $0.1500 support, GRT faces an uncertain future. It could either rebound and rally towards $0.2000 or continue its decline, potentially sliding to as low as $0.1000.
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