Will the Graph close the gap to $1?
There is considerable chatter among crypto-trading circles that a bullish MACD could carry the potential to uplift the crypto to $1.2. Here is a complete GRT price prediction.
GRT Price Prediction: Introduction
The Graph (GRT) is not popular among the mainstream crypto community, so GRT price prediction might not agree on the direction the crypto will take. Keep on reading to find out everything you need to know about the Graph price prediction.
At the time of writing this analysis, GRT was trading at $0.7185, according to data available on CoinMarketCap. Its market cap was around $3.3 billion and enjoyed a 46th place rank across the market.
GRT Price Prediction: Technical Analysis
The Graph has been following a bullish trend for the better part of August. However, the fast upsurge was followed by a swift fall. The MACD readings on GRT price prediction are quite interesting. Upon a trend reversal from mid-August, the signal line crossed the MACD curve from above, and the indicators chart then moved to the negative zone.
From the onset, GRT appears to be yet another token hit by the general market sell-off. It looks like the upside ride was short lives, as buyers failed to hold gains made in the past two months. There was a sharp downside sparked by a major sell-off around September 6th, as GRT traded down and even managed to clear the 100-moving average on the daily.
The price of GRT has traded as low as $0.487, where somehow buyers managed to prevent any additional weakness. The price consolidated in a range, and then the downward moves kicked in. The point to note here is that GRT is trading just under the 100-moving average, which technical analysts can agree to be a sign that sellers are in control.
Price manages to correct the fall upon testing $0.643, then an initial resistance on the upside at around 23.6% Fib retracement level of the last drop from $0.83. So, there is a chance that sellers may appear at $0.759 and $0.770, as highlighted. If, somehow, GRT manages to rake in some gain, then the next resistance area could be around $0.930.
The resistance level at $0.77 holds a lot of importance, and the reason is that the $100-moving average on the four-hourly chart is positioned around it. As such, traders should watch the 100-moving average for possible sell-off zones moving ahead. That is one of the main factors that modified the GRT price prediction.
There is significant bearish pressure on the Graph price prediction. However, the technical point to this pressure showcases short-life qualities. The price after diving found support new a major support level, which has been existence for three months. The same support line may make a lot of difference for GTR price in the long run, as we made for Bitcoin price prediction.
As long as GRT prices manage to remain above this support area, then there is a huge chance that the Graph price prediction for 2021 may bounce back. On the other hand, a break below this support area could call for more losses in the near future.
GRT Price Prediction: Market Opinions
What could GRT be valued in a year? The 2021-2022 GRT price prediction is highly approximate and are often no more than speculations. Keep in mind that such short-term Graph price prediction is indicative in nature. Therefore backing projects to technical and fundamental analysis is critical to avoiding losses.
As of today, WalletInvestor has foreseen that GRT might be valued at $0.455 within a year. Compared to the current trading price of this crypto, this figure is a bit lower. Therefore, GRT might not make it past the $1 price target within a year, even though a bullish outlook is likely.
Similar to WalletInvestor, Gov.Capital is bearish on the future of GRT. In its GRT price prediction for a year, Gov.Capital projects a price of $0.405, which experts determine to be a decline in the coin’s value for the rest of the years and into 2022. These forecasts were probably made based on the current decline of the coin.
According to the News Crypto, the most sensible Graph price prediction for 2021 is $2.17, which is bullish. The forecasts suggest that GRT will continue to rise and, in 2022, might contain what it takes to smash through all-time high prices. While the figure is desirable, it hides a significant truth that GRT is in for dark days.
Also bullish, CoinQuora projects $0.86 as the next possible support level, which carries all the hallmarks of an attempt to burst through $1. With the long-term forecast as bullish, CoinQuora forecasts that GRT could from then onwards trade above $1.
The News Crypto offers two possible outcomes for GRT in 2021: one bullish and the other bearish. According to the forecast, the Graph crypto will reach $0.28 before the end of 2021 but could also rise to $0.62. In the long run, the prediction foresees GRT trading for $2.17.
The Long Forecast platform projects $0.49 as the trading price at the start of December 2021. For 2022, Long Forecast projects prices trading between $0.49 and $0.39 for the better part of the year with no significant moves anticipated. Yet, investors should consider positive outcomes and upward moves just as much as negative waves.
Cryptocurrency trading analysts also provide varying sentiments on the future of the Graph. Based on a technical analysis performed by the Eight Bull Team, the Graph’s native crypto has the potential for a long-term trade. Targeting a potential exit at $2.924, the forecast does not give a clear indication of where the team expects GRT to achieve this figure. Notably, the bullish trend in February pushed prices to $2.924.
Likewise, the Cryer foresees GRT trading at $4.733 in the future but cautions that this crypto will go through a period of intense bearish pressure. With that in mind, traders should approach GRT with no impulse decision making as the possibility of a fall to as low as $0.219 is very much likely. However, $0.753 is a trustworthy point to mark the return of the upward trend.
Latest News and Happenings Concerning GRT
As of September 2021, The Graph notes that 23,000 developers have built and deployed over 22,000 subgraphs on their Hosted Service. The surge in developer activity was sparked by the subgraph migration in 2021, which saw over 180 subgraphs migrating to The Graph Network. Some of the apps that made the migration include the likes of Audius, PoolTogether, and Reflexer, and The Graph reports that more dApps are migrating every day.
While The Graph is working to correct the inefficiencies of the Ethereum network, its Foundation announced a $500K grants to the Execution Layer (Eth1) Client Ecosystem Fundraise and the Open Grants initiative for Eth2 client teams. The Graph is joining as the first external contributor to the Eth2 funding pool. This initiative is a way for The Graph to not only gain traction in the Ethereum developer community but also help support the Ethereum price prediction, which has been instrumental in its creation. At the same time, XRP price prediction was also influenced.
The remarkably favorable GRT price prediction came as the result of The Graph community’s dedication and grit since MainNet launch in December. In Wave 2, The Graph is planning on distributing over $2.8M with a focus on protocol R&D, tooling building subgraphs and dApps, community building, and security audits. The second wave is promising to bring new features and capabilities that will propel The Graph to a premier position in the market. This news should arouse bullish The Graph price prediction 2021.
GRT Price Prediction: Verdict
Currently, The Graph price prediction 2021 reveals GRT as a solid bet in cryptocurrency investments. Besides, a majority of GRT price prediction present the cryptocurrency as one anticipating a calm at the end of the storm. That’s all you need to know about the Graph price prediction.