The Graph trades near resistance at MA-20 as ADX confirms weak trend strength: weekly report
The Graph (GRT) is currently priced at $0.02758, marking a weekly gain of $0.0033 or 13.54%. This puts GRT trading at the very top of its weekly range and below all major weekly moving averages, including the MA-20 ($0.02907), MA-50 ($0.05888), and MA-200 ($0.13013), signaling ongoing medium- and long-term bearish pressure.
0.01637
0.01697000
Highlights
- GRT remains under medium- and long-term selling pressure, trading below key moving average levels on the weekly chart.
- Momentum signals are decisively bearish with strong sell indications from MACD and a weak downward trend confirmed by ADX and RSI.
- Next week’s expected range is $0.0240 to $0.0302, with a high likelihood of sideways or downside movement unless $0.0302 is decisively breached.
Bearish momentum holds as overbought signals increase correction risks this week
On the weekly (W1) chart, bearish momentum persists for GRT. The MACD remains firmly in strong sell territory, while the ADX confirms a downward trend with low strength. The RSI is sitting in bearish territory and the Stochastic RSI is firmly overbought, highlighting price vulnerability despite the recent surge. Bull/Bear Power shows only a slight buyer presence, overshadowed by dominant selling signals. The nearest resistance is around the MA-20 at $0.02907, with stronger resistance at MA-50 ($0.05888) and MA-200 ($0.13013). Weekly support stands at $0.0240, and resistance is observed near $0.0302, aligning with recent price highs.
Sideways range likely as overbought conditions limit upside next week
Looking forward, GRT’s expected weekly range for the next 7 days is $0.0240 to $0.0302, based on current volatility and momentum readings. The combination of overbought short-term signals and weak buy indications means a sideways consolidation near current levels is the most likely scenario, with less than a 20% probability of further upside. A bullish breakout requires strong buying and a close above $0.0302, but a drop below $0.0240 would confirm bearish control and open the way for further declines.
Earlier, analysts noted that The Graph was locked in a persistent medium- to long-term downtrend, with sellers maintaining firm control of momentum. This outlook remains intact as recent gains have yet to shift the broader technical picture, making the $0.0302 resistance level pivotal for any meaningful reversal attempts this week.
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