The post The Graph (GRT) Crypto’s Road to Recovery: Can It Reach $1 Mark? appeared on BitcoinEthereumNews.com.

1 The sentiment data marks a positive divergence between the Graph price and Daily active addresses, suggesting a bullish scenario for the crypto.  2 A bullish crossover of the RSI and 14-day SMA line was observed on the daily chart, indicating a trend continuation.  The Graph crypto has experienced a significant uptick, rising nearly 18% in the last couple of weeks, coinciding with a broader market recovery. This shift in momentum follows the latest U.S. Consumer Price Index data, after which the crypto markets have shown signs of revival. The Graph token has surpassed the 50-day Exponential Moving Average, instilling a positive sentiment among traders. Additionally, the price has broken through key trendline resistance, indicating an exit from its previous downward trend. Positive Divergence in Price and Daily Active Address Signals Potential Uptrend  According to the Santiment data, there has been a positive divergence between the Graph price and its daily active addresses, suggesting that the crypto is bullish. The widening of this divergence further supports the likelihood of sustained bullish sentiment. Moreover, the daily active addresses quantify the count of distinct addresses involved in transactions. A rise in this number signifies a broader adoption of the crypto. Furthermore, the divergence between the daily active address and the price serves as an indicator of the potential direction the price may take in future trading sessions. Is a $1 Milestone in Sight for The Graph (GRT) Crypto? The technical analysis indicates that The Graph’s crypto has entered a bullish phase, having surged past the $0.3 threshold. Analysts maintain a positive outlook, anticipating a climb toward $0.35, which is the next supply level. Additionally, the daily chart reveals a rising channel formation, with the price recently rebounding from the channel’s lower edge, hinting at ongoing bullish momentum. var tradingview_embed_options = {}; tradingview_embed_options.width=”980″;…

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Filed under: News - @ May 18, 2024 12:24 pm