The Graph (GRT) Doubled The Price In October! What are the November Expectations?
One of the stars of this month was The Graph ( GRT ). The price rallied almost 100% from the $0.63 region to $1.19. So, how can GRT, which performed so well in October, perform in November and December? What scenarios await investors?
The Graph (GRT) Price Prediction
The current position of the price is considered suitable for the continuation of the uptrend. In the short term, the expectation of $ 1.65 will not be very optimistic. There is no serious resistance against the price in this region. GRT has been moving upwards since October 1, when it broke out of a descending resistance line. This marked the end of the fall that covered the entire September.
RSI and MACD support the upward movement of the price. The RSI, a momentum indicator, has been rising since the breakout mentioned above. RSI crossing above 70 on October 23 confirms the overbought pressure. A significant part of altcoin rallies are experienced above the RSI 70 region, accordingly, bullish expectations for The Graph ( GRT ) have increased in the short term. The MACD formed by the short and long-term moving average (MA) is positive and rising. This means that the short-term trend is faster than the long-term one.
The Graph (GRT) What are the Levels to Consider?
The September peak of $1.05 has finally been surpassed. This area should be followed closely in the coming days. It can also be considered as a stopping point. The next target will be $1.65, the price is not expected to face serious resistance until this point. Cryptocurrency analyst @Incomesharks confirms that the price is rushing towards the $1.65 target.
The Graph ( GRT ) is not as successful against Bitcoin as it is with USDT. However , it seems to be ready for a new move on the basis of Bitcoin ( BTC ). First, GRT broke out of a long-term descending resistance line. The latter reclaimed 1500 satoshi horizontal space (red circle) after initially deviating from gold. This is a bullish development that often precedes upward moves.
In addition, on a BTC basis, the RSI has risen above 50. If the rise continues, the price can be expected to walk up to the 2250 satoshi region.