The Graph Price Prediction 2021 – Will GRT Hit $3.5 Soon?

The Graph Price Prediction 2021 - Will GRT Hit $3.5 Soon?
  • Bullish GRT price prediction ranges from $0.62 to $2.17.
  • GRT price might also reach $3.5 soon.
  • GRT bearish market price prediction for 2021 is $0.28.

In The Graph (GRT) price prediction 2021, we use statistics, price analysis, RSI, and many other information about GRT to analyze the future trend of cryptocurrency.

GRT is a global API and indexing protocol designed to organize blockchain data and make it easily accessible via GraphQL. Developers can use Graph Explorer to find, search, and publish any public data needed to build decentralized applications. For developers, they create serverless dApps that run entirely on public infrastructure.

According to CoinGecko, the GRT price is trading at $0.5 with a 24-hour trading volume of $83,015,027, at the time of writing. However, GRT has decreased by 1.6% in the last 24 hours.

Moreover, GRT has a circulating supply of 2,897,903,422 GRT. Currently, GRT trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, CoinTiger, and FTX. 

The Graph (GRT) Price Prediction 2021

GRT holds the 56th position on CoinGecko right now. GRT price prediction 2021 explained below with a daily time frame.

GRT/USDT Price Chart Daily Time Frame (Source: TradingView)

The above chart shows the “Falling Wedge pattern”. Generally, the Falling wedge is a bullish pattern that starts from the top high and contracts as the price falls. However, this price movement forms a downward cone. When the highs and lows of a trend converge. This shows that due to the huge volume of trade during this time, the price of GRT will continue to rise and in the near future it will surpass its all-time high price ever.

In the daily time frame chart,  if the price of the GRT breaks the resistance level of $0.96, it will reach the target of $1.31 and $2.17. Or else, if the price of the GRT breakout the support level of $0.42 means it will fall to the next support level at $0.28. So, the trend of the GRT is based on the breakout.

GRT Support and Resistance Level

The below chart shows the support and resistance level of GRT.

GRT/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support level of GRT.

  • Resistance Level 1 – $0.62
  • Resistance Level 2 – $0.79
  • Resistance Level 3 – $1.03
  • Resistance Level 4 – $1.31
  • Resistance Level 5 – $1.68
  • Resistance Level 6 – $2.17
  • Support Level 1 – $0.42
  • Support Level 2 – $0.28

The charts show that GRT has performed a bullish trend over the past month. If this trend continues, GRT might run along with the bulls overtaking its resistance level at $2.17.

Conversely, if the investors turn against the crypto, the price of GRT might plummet to almost $0.28, a bearish signal.

GRT Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of GRT. Generally, ADX is used to measure the overall strength of the trend and it is related to the Directional Movement Index (DMI).

The oscillator ranges from 0 to 100. Moreover, a high price indicates a strong trend, and a low price shows a weak trend. It is often combined with directional indicators. 

GRT/USDT ADX(Source: TradingView)

The above chart shows the ADX of GRT stays above the range of 18, so it indicates a weak trend.

Conclusion

GRT is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term GRT price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $2.84 this year. However, this only happens when GRT breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the GRT ecosystem, it could experience a great future ahead in 2021. It may reach $2.17 soon and it might even reach high heights, however reaching $3.5, if investors have planned that GRT is a good investment in 2021.

Recommended for You

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.