grt price prediction

The goal of blockchain technology is to be decentralized and trustless, which means that specific processes that would typically be used cannot be applied in blockchain-based systems. Retrieving data from the third party is one of these processes – yet The Graph (GRT) offers a simple solution that looks to have incredible value in the future.

In this article, we’ll explore Graph Price Prediction in depth. We’ll touch on how The Graph works and the token’s outlook before highlighting where you can buy The Graph today – with no commissions!

GRT Price Prediction

So in this, the GRT stock forecast will explore what this cryptocurrency does and the coin’s prospects over the short and long term. However, if you’re just looking for a brief overview of our findings, the bullet points below highlight our estimations for the months ahead.

The Graph price today is trading around $0.86, following a push from the bottom of the range just over a week ago. We estimate that this bullish momentum will continue, giving The Graph a value of $1 within the next month.

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GRT Price Prediction 2022

In the year 2022, Months – Once The Graph reaches $1, there will likely be some consolidation since this level represents a solid psychological barrier. However, once the upwards momentum starts once more, we could see The Graph head towards $1.50 over the next three months.

The early part of the year is traditionally relatively slow for cryptos, so momentum may die down a little here. With that said, our The Graph forecast estimates that the coin will look to reach $1.70 by the early part of 2022.

GRT (The Graph) Token Price Forecast

Now that you have a brief overview of how The Graph works, let’s take a look at the token’s outlook. Much like when you buy stocks, it’s essential to do your due diligence and research the factors that may affect the price. With that in mind, let’s look at the technical and fundamental elements of our The Graph prediction 2021.

Technical Analysis

As the price analysis below highlights, the current price of The Graph is trading between $0.64 and $1.05. The bottom of the range represents a support level propping the price up, whilst the top of the range amounts to a strong resistance level. Thus, the price seems to be trading in between these two points and has been since early August.

grt technical analysis

Notably, the price of GRT is trading above the 50-day EMA, which is a measure of the medium-term trend. Furthermore, EMAs such as this can often be used as a support level to prop price up. This is what seems to be happening with the GRT coin price, providing optimism to investors.

Fundamental Analysis

According to CoinMarketCap, The Graph currently has a market cap of $4.1bn, making it the 46th largest cryptocurrency in the world right now. Trading volume has increased over 170% in the past 24hrs, reaching a total of $330.8m. There are 4.72bn GRT tokens in circulation, with a max supply of just over 10bn.

From a fundamental level, we believe that The Graph will continue to grow in stature in the years ahead.

The growth of the DeFi space, combined with more and more decentralized apps (dApps) springing up, means that data gathering will become increasingly prevalent. Furthermore, developers may not have the time (or the knowledge) to obtain the data they require – meaning The Graph will be in high demand.

This article is firstly and originally appeared on Economywatch.com and redistributed by Grabcoins.link.

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