Price Analysis View Non-AMP

GRT Price Within Triangle Teases Breakout Run To $0.45

Published by
Sohrab Khawas

As Bitcoin makes a bullish comeback this week, with an intraday jump of 2.44%, the altcoins market is ready for a reversal. Amidst the rising coins, the GRT price trend shows an intraday rise, teasing a bull cycle for a breakout run.

With the underlying demand rising, the anticipation for a bull run in the Graph token price is also increasing. Will the growing demand result in a jump beyond the psychological mark of 50 cents? Check out our GRT price prediction for a long-term analysis.

Triangle Breakout Chances Grow For Graph

With a bullish bounce back from a long-coming support trendline, the GRT price sustains the higher low formation. However, the overhead supply driving the pullback leads to a resistance trendline. 

As the two trendlines converge, the daily price chart shows a triangle pattern formation. Currently, the altcoin price trend shows a lower price rejection in the pullback cycle, teasing an uptrend to the resistance trendline.

Currently, the GRT price trades at $0.2859, with an intraday move of 2.42% projecting a high likelihood of an uptrend. As the broader market finally gains momentum, the altcoin could shortly give a breakout rally.

Technical Indicator:

MACD: The bullish rise in the MACD and signal line faces opposition, resulting in convergence. As this threatens a crossover, the bullish reversal could reset the uptrend. 

RSI: The daily RSI line shows a rising trend sustaining above the halfway line. 

Will The GRT Price Reach $0.50?

With the overhead trendline under stress in the daily chart, the GRT price is hinting at a breakout rally. Further, the 16% jump in trading volume supports the breakout possibility. 

As per the Fibonacci levels, a bull run above the 50% Fibonacci level could reach the previous swing high at $0.45. If the bullish momentum sustains, the altcoin could reach the psychological mark of $0.50.

Also Check Out : Is This A Crucial Time To Stack Artificial Intelligence (AI) Tokens As They Stumble Again?

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Canary Capital Files for Staked TRX ETF With U.S. SEC

The staking feature for crypto ETFs will likely be approved by the Donald Trump administration. …

April 19, 2025

Official Trump Unlocks 40M Tokens Worth $300M: What Next For TRUMP?

The TRUMP price has dropped 90% from its all-time high, which was recorded three months…

April 19, 2025

BNB Price Breakout Above $600? On-Chain Metrics Hint at Bullish Momentum

BNB is experiencing buying demand as overall market sentiment turns positive. Although the price is…

April 19, 2025

Ethereum Breakout Looms: Whales Piles Up in Anticipation of Big ETH Price Surge

The wider altcoin market, led by memecoins, has signaled a bullish breakout soon amid ongoing…

April 19, 2025

Oregon’s Attorney General Revives Gary Gensler’s Case Against Coinbase: What Next?

Coinbase has held the stance that crypto assets are not securities but instead are digital…

April 18, 2025

4 Tokens Under $0.40 That Are Not Dogecoin (DOGE) to Turn $850 to $85000

In a massive market like the crypto market, finding a coin to invest in can…

April 18, 2025