The GRT token that gained huge attention by surging more than 50% on listing, experienced a huge plunge in recent times.
Currently, GRT token price is trending in the decisive phase where-in a positive uptrend is the need of the hour.
Will GRT Price Hit $1?
The Graph Token that rallied from $0.17 to more than $0.66 in just a couple of days since its inception, witnessed a downfall offlet. The further couple of days the price experienced a drastic plunge by a decline of nearly 33 percent.
The plunge had included a series of green candles too and hence the plunge was considered a small correction. And hence, the price surged back to $0.37 as expected and many anticipated that the rally would continue further.
Yet the token faced a major set back by dipping drastically by more than 63% in just a couple of days which shed all the gains at once. However, the token is attempting very hard to rebound to the lost levels, which appears to be a little tough at the moment.
The GRT price is trending within an ascending triangle and the price is on the verge to have a breakdown. If the price smashes the support levels, the price is expected to go as low as $0.2. However, the coming couple of hours are very determining as the price may also rebound to touch the levels close to $1.
GRT Community Perplexed with the Upcoming Trend
The GRT price is trending in a very mystifying manner as the crypto space is puzzled with the upcoming move. Some believe GRT token may rebound back with great numbers yet some believe the token may revisit still lower levels.
One of the crypto traders and analysts, M.U.Q believes the price reversal is imminent as it has visited three consecutive lows and retested.
Yet another crypto analyst, The Wick predicted the GRT token’s bearish trend to remain intact as the price is trending in a bearish channel.
On the whole, currently, it is important for the Graph token price to maintain strong at $0.27 to avoid further plunge to the lowest levels. As the GRT price at the time of writing is $0.2766 with a drop of 6.01% in the last 24 hours.