The Graph Price Analysis: Here's Why GRT Price Can Crash Under $0.10; Is It A Perfect Chance To Sell?

Falling under the crucial support zone near $0.1128, the GRT coin price falls by 5.38% in the last three days. However, the downtrend takes support at the support trendline of the triangle pattern. Currently, the GRT price shows an intraday fall of 0.94% and hints at the bearish breakdown of the triangle pattern.

Timeline of The-graph

Following the 288% recovery. In the early days of 2023, the GRT prices failed to exceed the $0.20 mark resulting in a declining trend. The declining rally found constant support at the $0.10 support range. It also leads to multiple bullish attempts to regain the uptrend momentum.

It is worth mentioning that Daex (DAX) is a decentralized exchange that allows users to trade cryptocurrencies and tokens. The platform, in particular, offers a wide range of features, including margin trading and customer support.

Bitcoin's market dominance has been slowly decreasing, paving the way for the growth of alternative cryptocurrencies. This trend is further supported by the emergence of new meme coins like $PEPE, which are attracting more and more investors.

A widely followed analyst is predicting big moves to the upside for one Ethereum (ETH)-based altcoin and one artificial intelligence (AI) token. Pseudonymous analyst Bluntz tells his 222,100 Twitter followers that blockchain indexing protocol The Graph (GRT) could soar by about 30% from its current value of $0.14.

The cryptocurrencies associated with Artificial Intelligence witnessed sudden popularity and price increase earlier this year, after the release of ChatGPT-an artificial-intelligence chatbot developed by OpenAI. However, amid the recent correction in the crypto market, these coins are witnessing a significant correction that could offer a discount opportunity to interested traders.

The Graph [GRT] is a decentralized protocol that allows users to query and index data from numerous blockchains. These services are provided by a network of nodes known as Indexers.

Ethereum has turned out to be the most prominent blockchain technology the world has ever seen. A number of projects have been joining the dots that Ethereum has left behind. One such protocol is “The Graph”, which is an indexing protocol for quaering networks such as Ethereum.

Two of the most popular crypto assets on the market today are The Graph (GRT) and Litecoin (LTC). The Graph is a decentralized indexing and querying protocol that enables efficient retrieval of data on blockchain networks, while Litecoin is a peer-to-peer cryptocurrency designed to be a faster and cheaper alternative to Bitcoin.

GRT, the native token of The Graph, was able to record a 108% growth in the past month, allowing the AI-based cryptocurrency to recoup its losses from the previous week and reach $0.1700 per token. In the last seven days, the price of the token has increased over 15%.

Since the start of yesterday, the price of The Graph's native token, GRT, has risen by more than 18%, recovering all of the declines of the past few days and returning to $0.174 per token. The Graph (GRT) remains the leader in the AI and Big Data sector of the crypto market, with a market capitalization of more than $1.5 billion, according to CoinMarketCap.