Leading indexing protocol The Graph (GRT) price has recently experienced an -8% drop due to rejection from upper trendline resistance, causing concern among some investors. However, this decline follows a significant +30% surge in GRT price after the announcement that The Graph will start fulfilling queries for AI large language models, highlighting the impressive growth of this Web3 infrastructure component.
The Graph’s Pivot Towards AI Integration
The news of The Graph’s pivot towards AI has been well-received by the crypto market, with traders becoming increasingly bullish following the announcement. This shift in sentiment has led to The Graph being ranked as one of the best projects to buy.
GRT Price Analysis
As of now, The Graph is trading at a market price of $0.13, representing a 24-hour change of -5.09%. The retracement move, triggered by resistance at $0.165, has caused GRT price to tumble -8%. However, the technical structure suggests that the price has found a likely support zone around $0.105, forming a lower target for downside risk.
Furthermore, the retracement move has cooled-off an overbought RSI and the MACD remains with bullish divergence at 0.0035. This indicates that GRT price looks strong despite the recent -8% tumble, with an upside target at $0.135 and a potential downside risk at $0.105.
GRT Price Retrace Alternative
While GRT price experiences retracement, an emerging Bitcoin Cloud Mining presale has seen significant growth as excitement around Bitcoin ETFs grows. The presale has raised over $3.6M and offers an enticing 1224% Staking APY.
Bitcoin Minetrix Presale
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Disclaimer: Cryptocurrency is a high-risk asset class and this article is for informational purposes only. It does not constitute investment advice.