A Configuration Signaling a Bullish Reversal
At the end of 2024, GRT broke out of its descending channel, reclaimed the 100-day moving average, then quickly crossed above the 200-day moving average. It then experienced a brief consolidation phase before exploding 76% upward.
Today, GRT appears to be reproducing a similar pattern. It has once again broken out of a descending channel and reclaimed its 100-day moving average. Its current price is hovering around the 200-day moving average at $0.1113, consolidating within a narrow range, marked by the same type of correction that preceded its previous breakout. The resemblance to the 2024 structure is striking and could signal a new bullish movement.
Outlook for GRT
If GRT manages to maintain above the 100-day moving average at $0.0978 and achieves a clear breakout above the 200-day moving average, this current consolidation could mark the beginning of a new uptrend. Should the fractal pattern fully materialize, GRT could climb toward the upper resistance of the broader descending wedge pattern, around the $0.19 to $0.20 range, offering upside potential of 90% from current levels.
However, bulls will want to see continued strength above the 100-day moving average to keep this bullish structure intact. A breakdown below the moving averages could weaken the case for a short-term rally.
How to Buy GRT on Bitget
Want to invest in The Graph (GRT) via Bitget ? Here are the steps to complete your purchase easily and quickly :
- Create an account on Bitget with your email address, then complete the identity verification (KYC) to activate all platform features.
- Add funds to your account through a bank card deposit, wire transfer, or cryptocurrency transfer from another wallet.
- Search for the GRT/USDT pair in the Spot or Futures section, depending on your trading style.
- Place a buy order by choosing the option that best fits your strategy: market order, limit order, or futures contract.
- Confirm the transaction, and your GRT will be automatically available in your Bitget wallet.
Always take time to study market trends before diving in to optimize your investment decisions.
