The Graph Price Prediction: GRT future is defined by these two crucial levels

  • The Graph price shows the formation of a bull flag pattern on the 4-hour chart.
  • A decisive close above bull flag’s upper trendline projects GRT 65%-to-185% price surge in the mid-to-long term.
  • The bullish thesis could be invalidated if GRT price slices through the flag’s lower trendline around the $1.72 level.

The Graph price has seen a massive 190% rally since February 10. However, due to the slowdown of the cryptocurrency market, GRT has consolidated into a bull flag formation awaiting a clear breakout.

The Graph price primed for a massive rally

The Graph price has dipped into a consolidation pattern since February 12 after a brief but explosive rally, forming a bull flag.

A bull flag is a momentum-based pattern, where the price first explodes with high volume forming a “flag pole”. This rally then is followed by a consolidation, creating the “flag”.

The breakout from the flag continues in the direction of the previous price trend. Therefore, these patterns are called continuation patterns. The target for such a technical setup is the distance between the pattern's high and the flagpole's base measured from the breakout point.

In GRT's case, the first target is a 65% surge measured from the top of the pole to the bottom which coincides with the 127.2% Fibonacci retracement level. The second is a 180% surge measured in the opposite direction or the 261.8% Fibonacci level.

These targets are $3.35 and $5.90, respectively.

GRT/USDT 4-hour chart

GRT/USDT 4-hour chart

It is worth mentioning that a failure to close above the flag’s upper trendline could send the token towards the support barrier at $1.65. Moreover, a breakdown of the flag invalidate GRT’s bullish thesis and trigger a sell-off towards the $1.1 level.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Cardano Price Forecast: ADA braces for a test of $2 amid a potential bull pennant

Cardano (ADA/USD) is extending its recovery this Sunday after a sharp sell-off witnessed a day before. ADA/USD charts a bull pennant on the 12H chart.  A test of the $2 mark appears inevitable if the bullish pattern is confirmed. RSI has regained upside momentum, well above 50.00.

More Cardano News

XLM Price risks further falls towards $0.53 amid double top reversal

XLM/USD is falling for the third straight day on Sunday. $0.53 support appears at risk after the double top reversal on the 1D chart. RSI points south towards the midline as the XLM price eases from record highs.

More Stellar News

Dogecoin: Defending 21-DMA is critical after Musk calls it a ‘hustle’

Elon Musk's appearance on 'SNL' throws DOGE under the bus. DOGE/USD extends sell-off into Sunday, hitting five-day lows. DOGE bulls remain hopeful as 21-DMA support holds, with RSI still bullish.

More Dogecoin News

Ethereum bulls gather strength for a sustained break above $4000

Ethereum bulls take a breather after Saturday’s $500 rally to record highs. The No. 2 coin eyes additional upside after rising wedge breakout on the 4H chart. RSI is in the overbought region, dip buying to keep the uptrend intact.

More Ethereum News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast