- Bullish GRT price prediction ranges from $1.11 to $2.44.
- The GRT price might also reach $3 soon.
- GRT’s bearish market price prediction for 2021 is $0.74.
This 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.
GRT is one of the promising cryptos that technology allows DApps and other blockchains to interact together seamlessly. A 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 first understand ‘what is The Graph (GRT)?’
What Is The Graph (GRT)?
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 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.
The Graph (GRT) Current Market Status
According to CoinMarketCap, GRT trades at $0.93 with a 24-hour trading volume of $184,645,676, as of the time of writing this GRT price analysis. The price of GRT has decreased by 3% in the last 24 hours.
Furthermore, GRT has a current circulating supply of 4.72B GRT. Currently, the top cryptocurrency exchanges for GRT are Binance, OKEx, Upbit, FTX, and CoinTiger Exchange.
Now, let’s proceed to the next part of this GRT technical analysis for 2021.
The Graph (GRT) Price Analysis 2021
Currently, GRT holds 44th place on CoinMarketCap. But will the latest upgrades, development, and changes in the GRT blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this GRT price prediction article.
Based on the graph above, the chart displays a cup and handle pattern. The pattern represents a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the lower trendline represents the start of a new bearish trend, while a breakout from the upper trendline shows the start of a new bullish trend.
As shown above, at the beginning of this month, GRT turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.
The Relative Strength Index (RSI) is above 57.48, which means that GRT is in a neither overbought nor oversold state. With this traders need to stay cautious while trading, turning away from further losses.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of GRT.
Since the start of 2021, GRT’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, GRT has a competitive market this 2021.
The Graph (GRT) Price Prediction 2021
The chart below shows that GRT has performed great over the past few days. Moreover, the GRT price shows a bullish trend. If this trend continues, GRT might run along with the bulls, overtaking its $2.44 resistance level and moving higher.
Conversely, if the investors turn towards the crypto, the bears might take over and push GRT from its uptrend position. In simpler terms, the price of GRT might plummet to almost $0.74, a bearish signal.
Meanwhile, our long-term GRT price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.
The Graph (GRT) Price Prediction 2022
If this bullish trend continues, GRT will reach $3 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $3.5. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $3 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
The Graph (GRT) Price Prediction 2023
If GRT holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $5, making it not plummet but play consistently.
The Graph (GRT) Price Prediction 2024
As per the latest upgrades, developments, GRT price prediction, and new project forecasts of the platform, GRT investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of GRT in the crypto market, and it will be the best investment as the price can spike and reach around $6.5.
The Graph (GRT) Price Prediction 2025
In the next four years, GRT prices could race up to $10. However, reaching this level could not be so difficult for GRT as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that GRT has a high possibility of reaching a new ATH soon in the next five years as per the prediction.
Conclusion
GRT has a bright future ahead of it in 2021. With the ongoing developments happening within the GRT ecosystem, as well as in the overall crypto market, we may see GRT reach new heights.
Bullish GRT price prediction 2021 is $3. As said above, it may even reach its new ATH if investors have decided that GRT is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
FAQ
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.
Like other digital assets in the crypto world, GRT can be traded on many exchanges. Users can obtain GRT tokens by purchasing them from cryptocurrency exchanges such as Binance, OKEx, CoinTiger, Upbit, and Huobi Global.
GRT is a good investment in 2021, this token could be considered by most crypto investors. However, GRT has a high possibility of surpassing its current ATH at about $2.88 by 2022.
GRT is one of the active crypto assets that continues to maintain its uptrend position. If this bullish trend continues, GRT might be able to break from $2.44 and go all the way to $3. Of course, this is very likely to happen if the bullish market continues to favor this crypto.
GRT is considered one of the top-rising cryptocurrencies this year. Also, along with the recorded achievements of GRT in the past few months, we can say that GRT is indeed potentially good crypto to invest in this year
The Graph (GRT) price is expected to reach $3.5 by 2022.
The Graph (GRT) price is expected to reach $5 by 2023.
The Graph (GRT) price is expected to reach $6.5 by 2024.
The Graph (GRT) price is expected to reach $10 by 2025.
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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