- The price has been reduced to $0.996.
- The Graph price analysis shows bearish trend.
- Support is still holding at $0.678 level.
The Graph price analysis reveals that a downward movement in GRT/USD price has been observed today, which has cast quite a negative impact on the overall coin value. The price has been degraded up to $0.997 value after the bearish trend. Although a constant improvement in price has been recorded in the last two weeks, today’s trend has proved in the favor of the bears. The selling momentum is to intensify in the approaching hours as well.
GRT/USD 1-day price chart: Price takes backward flight as bears reclaim lead
The one-day The Graph price analysis shows that the cryptocurrency is facing loss for the past 24 hours. The price took an unexpected downturn today, degrading the cryptocurrency value down to $0.997. Although the price has been advancing quite regularly since the past few weeks, today’s trend has been towards the bearish side. The price might go lower than the moving average (MA) level i.e. $0.985 if the declining trend continues.
The volatility has undergone a considerable decrease during the day which is why the Bollinger bands average is now maintained at $0.985. Whereas the upper value of the Bollinger bands indicator is now standing at $1.104 point whereas the lower value is at $0.678 point. The Relative Strength Index (RSI) score has stepped down to 59 as well.
The Graph price analysis: Price shows downward tendency after losing stability above $0.99
The price has covered downward movement in the last few hours as well as the bearish momentum has been trending over the market. The drop in price was quite unanticipated as the price was advancing rapidly. Still, a decline in price has been recorded in the last four hours, and the bears have succeeded in taking the price down to the $0.997 limit. The price is still above the moving average value, which is standing at the $0.980 point.
The increase in volatility means that the price might touch further low points in the coming hours. As a consequence, the upper Bollinger band has now moved to the $1.034 position whereas the lower Bollinger band has moved to $0.902. The RSI curve has flattened at 53.02 after the depreciation in price.
The bulls have been leading the price charts for the past few months if we observe the situation from a general perspective. There is a strong bullish signal for the day as given by the GRT/USD technical indicators chart. We can see 16 indicators standing on the buying position, nine indicators on the neutral position, and one indicator on the selling position.
The Oscillators are predicting a strong bullish trend by giving a buying signal as well. There are a total of 14 indicators occupying the buying position, one indicator is on the neutral position while zero indicators are on the selling position. The Oscillators, on the other hand, are giving a neutral indication for the day. There are eight indicators on the neutral level, two indicators on buying level, and one indicator on the selling level.
The Graph price analysis conclusion
The Graph price analysis suggests a bearish trend has been observed throughout the day as the price has been reduced to a $0.996 value. The one-day and four hours price charts are predicting a downward trend by giving a lead to the bears. Similar trends are expected in the coming days as well, as the selling momentum is getting sharp with each passing hour.
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