The broader cryptocurrency market has been making a significant uptrend since the market rebounded this month. Following these gains, altcoins such as The Graph have been making significant upswings that have led to price recoveries. Despite these recoveries, GRT is yet to attain its all-time high like many other coins have done.
The Graph is trading at $1.06 at the time of writing after a 15.2% gain in 24 hours.
GRT Price Analysis
GRT’s volatility in the past 24 hours has increased because of the sudden comeback in the entire market. The coin has managed to spike beyond $1, which is a two-month high for the coin. GRT is benefitting from market support, which has powered the significant gains.
If the bulls remain strong and buyers jump in to buy The Graph, we could see the next resistance at $1.10 being tested. This is a near possibility, given that besides market support, increased activity on The Graph’s blockchain has also spiked.
On the other hand, we could also see The Graph heading towards lower support levels. If there is q slight slump in the market, the lower support level will be $0.98. Selloffs could trigger this if the market fails again. Another lower support also lies at $0.85.
The Graph is following the action of other blockchains that want to implement layer two solutions. To achieve this, the firm has linked up with Optimism, a layer two scaling platform on the Ethereum blockchain. If The Graph can achieve scalability, it could improve the performance of its blockchain and fuel adoption.
The Graph blockchain also recently made a strategic partnership with Optimum. Optimum is an analytics site that is used for different coins so that traders can make informed decisions. This is a strategic partnership for this platform, enabling it to find an even stronger footing in the crypto sector.
Where to Buy GRT
If you want to purchase GRT coins, you can do so on the following cryptocurrency exchange platforms:
eToro is one of the leading cryptocurrency exchange platforms. It gives users access to a wide range of user-friendly features such as copy trading. Copy-trading allows new traders to copy the trading strategies of experienced traders.
The other exchange platform where you can buy GRT is Binance. Binance is one of the largest cryptocurrency exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. The trading fees charged by Binance are also low.
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