It is that time of the year when GRT Price prediction has to be made. With GRT value reaching up to $3 soon, everyone is looking forward to seeing its bearish market reduction for 2021. The digital market continues to evolve to stay ahead of its competitors. Although the market almost crashed during the worldwide pandemic, the volume of digital currency is increasing day by day. One of the most significant changes one has noticed is about the Graph (GRT) cryptocurrency.
So, without further ado, let’s go through what we understand about GRT
GRT is one of the crucial crypto money out there that allows the Apps and other blockchains. It utilizes such methods to interact together easily. After the launch of the platform, Graph partnered with different exchanges in the crypt world to expand its reach. The wide exposure of the GRT token has given rise to exchange triggers to the mass adoption of the tokens. So, as a result, the trading volume of the token has shot over $3 billion after 48 hours of its launch. The Graph or GRT is an ERC20 token. Namely, it runs on the ethereum blockchain.
A group of developers, including Ethereum Foundation, OpenZeppelin, and Decentraland, have founded The Group. The team of experts originally wanted to lend their knowledge in blockchain engineering to make a unique piece of digital currency. As it happens, these experts came together to build their latest project.
The project aimed to make firm APIs and data access. Hence, The Graph cryptocurrency was born. GRT technology focuses solely on the index and query quality of the blockchains. So, one can say that it supports the indexing data from Ethereum, Interplanetary File System, and POA technologies as well.
Currently, the protocol of GRT has deployed different kinds of Apps such as Uniswap, Synthetic, AAVE, and more. The digital currency is very flexible as it has support from different countries as well. The support from the EU, the UK, and other south Asian countries has continued to pour in. This aspect has prompted participants from many countries to invest in the Group.
Now That We Know What GRT Is, Let Us Get Down To Business And Go Through The GRT Market Analysis…
According to a report from Coin Market Cap, the GRT has started to trade at $0.93. Moreover, as of now, it has a 24-hour trading volume of $184,645,676. Although, one has to keep in mind that compared to the earlier price point, the price of GRT has decreased by 3% in one day. Furthermore, the GRT also has a circulating supply of 4.72B GRT. So, currently, one can assume that the top cryptocurrency exchanges for GRT are OKEx, Upbit, Binance, FTX, and CoinTiger Exchange.
Now that we know the current value of the GRT in the market, let us proceed to the next part. Here we will discuss the technical analysis for 2021….
The GRT price prediction for 2021 is one of the hottest topics among traders. Currently, the GRT holds 44th place on Coin Market Cap. However, during the latest upgrades, and changes in the GRT blockchain, many things are left to one’s imagination. Many are questioning whether such an intense upgrade will create a positive impact on the value of GRT. To understand such tricky parts, we have to go through the market charts.
Based on the charts that are displayed above, one can notice that it follows the cup and handle pattern. The pattern showcases a period of the merger. This merger may result in and reach an immediate price breakout. Moreover, it also has a chance of price breakdown.
The break down from the lower trendline will represent the start of a new bearish tee and. However, the new breakout from the upper trend line will indicate the start of a new bullish trend. If we take the above graph as a matter of study, then at the beginning of this month, the GRT will bear the bull trend. Moreover, it will be the result of the high trade volume that already occurred in that period.
The Graph or GRT Price Prediction 2021
As we have already mentioned, there is a high chance of GRT showing a bullish trend. If the trend continues, then the GRT may run along with the bulls. Moreover, it may run faster and overtake the resistance level of $2.44. Hence, there is a chance of it moving higher. So, if the investors turn towards using the crypto, then the bears may take over and push GRT from the position.
If we put it in simple terms, the rate of GRT may fall to almost $0.74. It is a bearish signal. Although we predict the long-term GRT price prediction for 2021 to be bullish. There is a high possibility of it reaching new heights. Although this will only happen if it breaks many past psychological resistances.
Further GRT Price prediction
As we have already mentioned, it may continue to have a bullish trend. However, we predict that it will reach $3 by the end of 2022. It will also show rapid growth and may shoot up to $3.5. The GRT will hold a support level around 200-MA during 2023. So, in that period, the buyer will have some time to invest. We predict that it will hit the $5 mark at that point.
Ending note:
The GRT Price Prediction has become one of the most asked questions in the crypto trading market. Although it may show a bullish trend in 2021. In 2023, it may hit the $5 mark.
You may also read: Ethereum Price Prediction For 2021, 2022, 2023, 2025, 2028
