GRT holds key support with buyers eyeing inflection points this week: weekly analysis

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The graph slips 5.91% this week

Highlights

The Graph trades at $0.02674 after dropping 5.91% in the past 7 days, positioned below its short-term moving average but above longer-term supports.
Technical indicators show a persistent but possibly exhausted seller presence, with the daily chart in oversold territory and a firm downward trend.
Expected price range for the next 7 days is $0.02373971 to $0.02974028, with a 71% probability of an upward move if resistance at $0.02681 is cleared.

Oversold signals grow as downside momentum dominates this week

On the daily chart, momentum reflects a sustained move lower with a firm trend, as shown by the recent decline and 22.38% volatility. The MACD and ADX both point to buyers remaining in control despite the loss, while the Stochastic RSI indicates the market is in the oversold zone at 8.41, highlighting persistent but potentially exhausted selling pressure. Immediate support stands at $0.02533, with resistance just above at the Ichimoku Kijun level of $0.02681, which price is currently testing. Together, this setup suggests that while downside momentum has been dominant, oversold conditions could soon prompt a rebound or at least a pause.

Bullish breakout hinges on resistance amid range-bound weekly outlook

For the next 7 days, the expected range is $0.02373971 to $0.02974028. There is a 71% probability of an increase versus 29% for a decrease. The base case is continued price action inside this range, with a bullish scenario unfolding if the price can break and close above resistance at $0.02681, opening the way for a recovery toward the upper end of the range. A bearish scenario would see the price fall through support at $0.02533, exposing further downside momentum.

Sholanke Dele, market strategist, notes that The Graph (GRT) endured another week of declines near $0.027, with persistent selling and stretched momentum putting pressure on support levels. He sees firm downside trends on the daily chart, but points out that deeply oversold conditions on the Stochastic RSI could prompt a technical rebound or pause soon. The base case for the coming week is sideways price action within the $0.02373971 to $0.02974028 range, with resistance at $0.02681 and support at $0.02533 now in focus. Dele remains cautious, as bearish momentum stays dominant without a clear catalyst for sustained recovery. "Until buyers reclaim and hold above $0.02681, I see no compelling reason to expect a lasting rebound in GRT this week."

Earlier, analysts noted that The Graph faced persistent selling pressure and a bearish technical outlook. The current analysis builds on this by highlighting potential for a near-term rebound should oversold conditions trigger a move above immediate resistance, making the $0.02681 level crucial to monitor for a shift in trend.

Source of Data: GRT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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