- Bullish GRT price prediction 2021 is $5.
- The price prediction for GRT before 2020 ends is up to $0.80.
The Graph (GRT) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our GRT price analysis and prediction.
The crypto industry continues to revolutionize its technology to stay competitive against its competitors. Despite this market decline due to the pandemic, the volume of cryptocurrencies still increases every day. One of them is the Graph (GRT) cryptocurrency.
Few days after its launch, the platform partnered with different exchanges in the crypto world. This wide exposure of GRT tokens to different exchanges triggers the mass adoption of the tokens. As a result, the trading volume of the token boosted to over $3 billion after 48 hours of its launch.
Now that we’ve seen some of the achievements of GRT, would this crypto be a profitable investment in 2021? Let’s check it out in this CoinQuora The Graph (GRT) price analysis and price prediction 2021. But before anything else, let us understand first what is The Graph (GRT).
What Is The Graph (GRT) Token?
The Graph (GRT) is an ERC20 token that runs on the Ethereum blockchain. It is founded by a group of developers from the Ethereum Foundation, OpenZeppelin, and Decentraland, to name some.
These teams of experts have professional experience in blockchain engineering. As for their latest project, the team aims to build immutable APIs and data access. Hence, The Graph cryptocurrency was born.
GRT technology focuses on the indexing and querying of data from blockchains. It supports indexing data from Ethereum, Interplanetary file system (IPFS) and POA technologies. Today, the GRT protocol has been deployed for different kinds of DApps such as Uniswap, Synthetic, AAVE and more.
The Graph has support from countries such as, the EU, UK, and other Asian countries. Consequently, more traders can participate and enjoy the GRT trading in their respective countries.
Now that we are aware of what is GRT, let us head to our GRT market analysis and price prediction.
GRT Price Analysis 2020
Lately, GRT tokens are listed on some of the famous exchanges in the crypto world like Binance, OKex and Coinbase. These listings provide GRT token holders more options to conveniently transfer and trade their funds seamlessly.
Would this be enough to support the crypto’s bullish uptrend in the remaining days of the year? Let us head to the chart below and check it out.
The graph above displays the uptrend performance of the crypto in the past few days. Upon its arrival in the crypto market, GRT delivers an outstanding performance in pumping its price from $0.03 to $0.59 within 24 hours.
This performance of the crypto has a growth rate of almost +2000%, a percentage that catches the attention of investors. If this goes on, GRT might continue its bullish escapade and go beyond its resistance level of $0.78.
However, if the crypto price slides below the Arnaud Legoux Moving Averages (ALMA) indicator, the crypto might break out its uptrend signal. It can plummet for as low as $0.42, a level that favors the bears but not the investors.
In this case, the bulls must attract more potential investors in the platform to maintain its uptrend signal. Otherwise, the bears might pull down the crypto even further to $0.28 and gain the upper-hand against the bulls.
Meanwhile, the moving average convergence/divergence (MACD) already performed its bullish crossover against the signal indicator. This means that the crypto can still expect its bullish uptrend to continue.
Best of all, the crypto price of GRT trades above the ALMA indicator. This is an indication that GRT might stand a chance in reaching the bullish price of $.80 before 2020 ends.
GRT Price Prediction 2021
The Graph cryptocurrency manages to include itself in the top 50 rankings of CoinGecko. Few days after its launch, GRT successfully boosted its market capitalization to almost $1 billion. Would these numbers be enough to convince investors that GRT is a profitable network in 2021? Let us see the chart in this GRT price analysis.
In this chart with the Fibonacci retracement indicator, the crypto remains to have a good advantage against the bears. Its current trading price positions itself above the Fibonacci golden ratio level (0.618), a Fibonacci bullish level.
As a result, GRT might have the chance to break and go beyond its resistance level of 0.236. If it does, the price of the crypto is likely to reach the bullish price of $2 to $4 in 2021. This GRT price prediction close to $3 is more likely to happen if the market continues to favor the crypto.
However, if the bulls turn against the crypto, GRT might break out from its uptrend position. Its price might dive as deep as $0.40. In this event, the bulls must regain their composure and quickly take over the bears’ position. Otherwise, the bears will not waste time in converting the support level of the crypto to its new resistance level.
If this happens, the bears will gain the upper hand and the bulls will have a hard time recovering from their losses. The price of the crypto in this event will suffer a decline rate of -40.37% from its current price, a vision not good in the eyes of the investors.
Meanwhile, the relative strength index (RSI) of the crypto recovers from its nearly oversold state. Currently, the RSI of the crypto points toward the level of 51.91. Therefore, the performance of the crypto is on the average level between overbought and oversold state.
In this case, GRT must proactively introduce its new technology to the crypto world and win the investors’ trust. If they do, the crypto may have the chance to secure its uptrend position or even go higher in 2021.
Yes, GRT can hit $20 in the upcoming days.
No, GRT cannot be mined as it is a non-mineable token.
GRT can be traded on the popular exchanges like Binance, Coinbase Pro, Kraken, KuCoin, Huobi Global and many more.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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