In the 1-hour chart, I analyze the fixed range volume profile for over 2 months. The highest trading volumes are clearly visible, which also makes the prices strong points. At the moment, it is at a support point, but if the downward trend of the last few days is followed, it is highly likely to rebound to the price of 0.1245 euros and then we may have an inflow...
The Graph had a good run so far in the current bullmarket. Bitcoin has a lot of potencial of going exponential and alts are bound to follow (at least for some), the price surpassed 0.9 EUR making it a key support line.
The volume must catch up so it go exponential as always and the current level seems to show a retracement soon before picking up more momentum....
The Graph has had significant interest since it launched in December 2020 as seen in the regular strong volume investment and trading, with the forthcoming implementation of new updates to query even more Defi blockchain and dApps, the trend points to solid growth.
I am not an expert, this is purely for fun and speculation, this is not trading advice. In my opinion, it's a matter of time till GRT has a pretty big run-up, the total market cap is quite decent, potentially can go to 10-20$ in the longer run 6-9 months time. WE will definitely see a retest on the lower support before this potential run-up.
It already retraced to near double bottom formation and now is ready to break the bearish trendline.
Entry ~0.30 EUR
SL below 0.27 EUR
Target ~0.45 EUR
Let's try to catch this momentum and hope for a good run.
Happy trading and holidays!
