The Graph has seen a slight price growth over the past three days. It broke through the $0.1060 mark and reached a peak of $0.1062 on August 12. As of August 14, The Graph rose further and reached a high of $0.1104. Although its price movement seems slightly bearish today, some experts expect its growth rate to reach 75% against its rival Ethereum.
But while there are more positives than negatives for the coin, it is worth noting that the significant price drop came after a notable price surge that occurred on July 4.
Despite the price growth over the past few days, GRT has not been able to recover to its highest price of $0.1431 recorded on July 3.
Therefore, maintaining the bullish trajectory of August 12-14 depends on the solidity of the support levels around its price.
Moreover, favorable market sentiment and strong buying presence are likely to help the asset maintain its uptrend.
The Graph Token Faces More Selling from Participants
Although the price of Graph appears to have dropped over the past 24 hours, it has remained on the rise over the past week, increasing by 1.46% while decreasing by 0.73% over the past 24 hours.
As of 05:15am ET, it was trading at $0.1076, supporting a growth of over $49 million in trading volume, a gain of over 5% in 24 hours.
Graph Price Prediction Based on Technical Indicators
The Graph coin is showing some weakness today, forming a new red candle on the daily price chart.
However, it is regaining strength as buyers are gradually taking over the market. This gradual pace is evident in the RSI’s balance reading of 46.71.
Meanwhile, there are some obstacles to the coin’s price growth today, especially from the resistance levels formed by the 50-day and 200-day moving averages.
However, given that the coin has just bounced off the $0.1041 support level, sellers may have difficulty controlling the price of Graph. The dominance of buyers in the market can also be seen from the MACD line slightly above the signal line.
According to this setup, The Graph could launch a bullish move to higher levels regardless of how many bearish hurdles its uptrend faces.
Nonetheless, traders and investors should remain cautious as this forecast may fluctuate due to breaking market news and updates.
Factors that may control the price of Graph
GRT is an important tool for decentralized application development by providing easy access and indexing of blockchain data.
Well-known blockchain platforms like Aave, Uniswap, and Compound have already integrated The Graph Network, which indicates a positive outlook for future demand.
In addition to this achievement, significant financial support from a well-known venture capital firm also highlights the team’s ability to maintain progress on The Graph Network.
While the prospect is appealing, be aware that there are inherent risks associated with investing in digital assets.
The value of GRT is clearly speculative and susceptible to sudden market fluctuations. However, through these plans, GRT still has the potential to grow.
Alternatives to The Graph – Chimpzee
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Chimpzee coin (CHMZ) is currently selling for $0.00085. The project is entering its ninth phase and has three days left before the subsequent price increase.
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During this period, more than 1.9 billion CHMPZ tokens have been sold, and the project’s token economic model has an attractive design.
The design includes philanthropic initiatives, community incentives, and product enhancement distribution.
Additionally, the Chimpzee framework offers a series of NFT passports, providing users in the Chimpzee community with opportunities to increase income and exclusive access to unique features.
These passports are divided into four levels: diamond, gold, silver and bronze, and are designed to inspire active participation and enthusiasm among users.
The project offers three different avenues for revenue generation: the NFT Marketplace – a profitable trading space, the Chimpzee Store – which enables profits through shopping, including an interactive play-to-win “zero tolerance game”.
As progress continues and each milestone is achieved, Chimpzee plans to burn one billion tokens, thereby increasing the value of the $CHMPZ token.
Supporting this move is the additional opportunity to receive $CHMPZ token for free, allowing buyers to further increase their gains.
Interested investors should act now and buy as many tokens as possible in the ninth stage to get greater gains in the next step.
Also read:
Chimpzee’s presale gains momentum with exciting airdrop offer – Fundraising reaches $1.1 million
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Chimpzee Presale Review – How to Buy and Early Bird Token Prices
Chimpzee Eco-Friendly ICO Raises $650K – New Cryptocurrency Coming Soon
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