Rising Graph Coin Strikes 30% Upswing Despite Market Uncertainty
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Brian Bollinger. The formation of a rounding top pattern in the last six months of price movement in Graph coin. It is a U-shaped recovery where a steady downward trend shifts to an upward trend after a short period of consolidation or side trends. Its core concept is a stunning example of a trend reverse. Here’s how this bullish reversal pattern may influence Graph coin’s future priceadvertisementKey Points: This rounding bottom pattern is seen as a sign of accumulation by investors and is confirmed when the price of the asset breaks above a neckline resistance level.
Bullish crossover between the 50 and 100-day EMAs additional purchasing orders in the market
The intraday trading volume of the Graph is 220 billion dollars, which indicates an 181% gain.
Source: TradingviewThe Graph coin price rose 112% since January 1st to $0.116. This bullish rally broke through several resistances with increasing volumes, indicating a sustained recovery phase. Moreover, the coin price reached $0.116 on February 5th after rising 112% since January 1st. Today, the GRT coin attempts to follow up on the resistance breakout by posting a 2% intraday increase. However, prices are still struggling to break the $0.12 local resistance. Trending Stories Anyhow, a potential correction could benefit the Graph coin price by stabilizing the excessive buying and checking where it can sustain a higher price.Thus, if the buyers manage to hold above the newly reclaimed levels, the post-retest rally could drive the prices 30% higher to hit $0.15.Technical Indicator.RSI: The daily RSI slope reentering overbought region indicates the buying sentiment in the market is aggressiveadvertisementEMAs: the 20- EMAs act as dynamic support to the fast-recovering Graph coiGraph Coin Price Intraday LevelsSpot rate: $0.115
Resistance levels: $0.12 and $0.1334
Support levels: $0.165 and $0.058
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