This week, the crypto market has been in a recession amid the dips being recorded across the entire financial sector. However, some coins are going contrary to the market trend, and they are moving towards notable highs because of increased buying support. The Graph is one of the top market gainers during the past 24 hours.
The Graph is trading at $1.02 at the time of writing after a 16.5% gain in 24 hours.
The Graph price analysis
The Graph is one of the top gainers in the crypto market. The token has managed to break past the $1 levels during the 24-hour bullish rally, reversing the bearish trend affecting its performance in the past weeks.
If GRT continues with its bullish gains, it could once again test resistance at $1.05. It has tested this level during the past 24 hours, but it was rejected shortly after. If it continues with its gains, it could set the next target at $1.10. Currently, the buying support is strong, and if it holds, these levels could be tested again.
On the other hand, the coin could fail to sustain the gains and push towards the lower support levels of $1. $1 is a crucial level for the token because if it slumps below this level, it could retreat towards the support levels of $0.85.
The Graph is one of the stocks believed to be a great contributor to decentralised finance’s future (DeFi). While it is not as large as the other Ethereum competitors, such as Solana and Avalanche, it has still recorded major gains, showing its potential to be a major DeFi player in the coming years.
Where to buy GRT
If you want to buy GRT token during the current gains, you can create a cryptocurrency exchange account on eToro. eToro is one of the leading exchange platforms, and it supports a wide range of features such as copy trading and low trading fees. With copy trading, a new trader can copy the trading strategies used by seasoned traders and increase profits.
Your capital is at risk.
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