Crypto investors closely monitor The Graph (GRT) token's recent performance amid market consolidation. The GRT chart hints at a potential significant bounce, supported by a familiar technical setup.
A Configuration Signaling a Bullish Reversal
At the end of 2024, GRT broke out of its descending channel, reclaimed the 100-day moving average, then quickly crossed above the 200-day moving average. It then experienced a brief consolidation phase before exploding 76% upward.
Today, GRT appears to be reproducing a similar pattern. It has once again broken out of a descending channel and reclaimed its 100-day moving average. Its current price is hovering around the 200-day moving average at $0.1113, consolidating within a narrow range, marked by the same type of correction that preceded its previous breakout. The resemblance to the 2024 structure is striking and could signal a new bullish movement.
Outlook for GRT
If GRT manages to maintain above the 100-day moving average at $0.0978 and achieves a clear breakout above the 200-day moving average, this current consolidation could mark the beginning of a new uptrend. Should the fractal pattern fully materialize, GRT could climb toward the upper resistance of the broader descending wedge pattern, around the $0.19 to $0.20 range, offering upside potential of 90% from current levels.
However, bulls will want to see continued strength above the 100-day moving average to keep this bullish structure intact. A breakdown below the moving averages could weaken the case for a short-term rally.
How to Buy GRT on Bitget
Want to invest in The Graph (GRT) via Bitget ? Here are the steps to complete your purchase easily and quickly :
Create an account on Bitget with your email address, then complete the identity verification (KYC) to activate all platform features.
Add funds to your account through a bank card deposit, wire transfer, or cryptocurrency transfer from another wallet.
Search for the GRT/USDT pair in the Spot or Futures section, depending on your trading style.
Place a buy order by choosing the option that best fits your strategy: market order, limit order, or futures contract.
Confirm the transaction, and your GRT will be automatically available in your Bitget wallet.
Always take time to study market trends before diving in to optimize your investment decisions.
