Amid rising uncertainty in the cryptocurrency market, the market leader, Bitcoin price has stabilized above the $58K level. Following this, altcoins have regained traction by adding significant value to their respective portfolios within a short period.
Further, Artificial Intelligence (AI) tokens have recorded a similar action. On the other hand, The Graph price has recorded a constant uptrend after testing its important level of $0.1375.
Will questions like “Will GRT price hit $1? And “How high will The Graph price go in 2024?”, investors are curious about the short-term price prospects of this AI token.
GRT Price Successfully Tests Its Support Trendline
After displaying a neutral price action for a brief period, the GRT crypto has recorded a jump of ~5% within the past day with a trading volume of $33.054 Million. Moreover, it has added 8.38% over the past week and has a market cap of $1.394 Billion.
The Simple Moving Average (SMA) has recorded a bullish convergence in the 1D time frame. This indicates an increase in the buying pressure within the crypto market.
Further, the MACD indicator is on the verge of surpassing its neutral point with its average trendline acting as a support. This suggests that the GRT price will continue gaining value in the coming time.
Will The Graph Coin Go Up?
If the market continues to gain momentum, the graph price will be prepared to test its resistance level of $0.1980. Further, if the bulls maintain the price at that level, this AI token may head toward its upper high of $0.2650 this month.
However, a weak price action could result in retesting its support trendline of $0.1375. Moreover, if the bears continue dominating the market, it may plunge toward its lower support level of $0.080.
Also read, The Graph Price Prediction 2024 – 2030
