What Awaits GRT in 2023?


High GRT price forecast range from $0.1088 to $0.2628. Graphical Rate may also reach $0.5 soon. The bearish GRT price forecast for 2023 is $0.0536.

In The Graph 2023 forecast, we use statistics, price patterns, RSI, RVOL and other information about Graph to analyze the future movement of cryptocurrency.

What is a Graph (GRT)?

Graph is the underlying cryptographic symbol of the graph, a random reference pattern in the query. It was launched as an ERC-20 token on Ethereum at the end of 2020.

The graph allows users to query and retrieve data from blockchains such as Ethereum, Inter Planetary Film System (IPFS), POA, and Binance Smart Chain using the GraphQL API. The network includes four categories of participants: indexers, curators, delegators and curators. The term Graph also varies between these services. Subscribers, representatives, and administrators invest in GRT tokens and earn them as a reward for their participation. Where customers have to pay GRT tokens to retrieve the data.

Chart Price Forecast (GRT) 2023

Graphite is currently ranked 76th on CoinGecko. The Graph 2023 price forecast is explained below along with the daily schedule.

The chart above from Charts shows a descending channel pattern. Descending channel patterns are temporarily bearish because the security is moving lower in the descending channel, but they form long-term highs as the trend continues. Descending channel values ​​usually follow higher prices. but only after the upward movement of the upper trendline.

A descending channel is drawn by connecting the high and low prices of the security and the trend line to show the decline. In a descending channel, a trader can place a sell bet when the security price reaches its resistance level. An ascending channel is the opposite of a descending channel. Ascending and descending channels are the main channels that technical analysts follow.

Currently, Chart is in the range of $0.06001. If this trend continues, the price of Graph may reach the resistance level of $0.0898 and $0.2094. If this trend reverses, the price of GRT may fall to $0.0566.

Graphical Support and Resistance Level

The chart below shows the chart’s support and resistance levels. From the daily chart above, we can clearly define these as resistance and support levels for the chart.
These charts show that the chart has been developing over the past month. If this trend continues, GRT may follow the bulls above its resistance level at $0.2628.

As a result, if investors turn against crypto, the price of The Graph may fall to the vicinity of $0.0536, a bearish signal.

Chart Price Prediction (GRT) 2023 – RVOL, MA and RSI

The relative volume (RVOL) of the graph is shown in the table below. It is an indicator of how the current trading volume has changed over time compared to the previous trading volume. Currently, GRT’s RVOL is trading below the decline line, indicating weak participants in the current trend.
Also, the moving average (MA) of the chart is shown in the chart above. ,

Obviously, the price Graph is trading below the 50 MA (short term), so it has completely fallen. Currently, GRT has entered a bearish position. Therefore, changes can be made to the TSO at any time.

Currently, the relative strength index (RSI) of GRT is 48.89. This means that the Graphic is not in a state where it is sold or marketed. However, this means that large changes in the TSO price may occur in the coming days. Therefore, customers should shop with caution.

Chart Price Prediction 2023 – ADX, RVI

Now, let’s take a look at the average direction (ADX) of the chart. It helps to measure the overall strength of the behavior. The indicator is the average of the values ​​of the spread price range. This strategy attempts to measure the strength of price movements in positive and negative directions using the DMI and ADX indicators.

The chart above represents the ADX of Graph (GRT). Currently, the ADX GRT is in the range of 18.49 and therefore indicates a weak trend.

The chart above also represents the Graph’s Volatility Index (RVI). The RVI measures the constant rate of price change over time. The RVI of GRT is above 50, indicating high volatility. Indeed, RSI of Graph is at 48.89, supporting a sell signal.

Comparison of GRT and BTC, ETH

The chart below shows the price comparison between Bitcoin (BTC), Ethereum (ETH) and The Graph (GRT). From the chart above, we can tell that GRT price action is opposite to ETH and BTC. This shows that when the price of BTC and ETH increases, the GRT decreases and if the price of BTC and ETH decreases, the Graph decreases.

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