The Graph (GRT)
Updated
The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS. GRT has a high growth potential and should keep an eye on it. It seems the downtrend phase is ended; after an upward impulse wave started price entered a corrective wave in a triangle-shaped pattern. Let's see if price can break this triangle.
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GRT has made a big inverted wedge pattern. A strong upward impulse wave started from the bottom of this pattern, went up, made a minor correction in the shape of a triangle pattern, and then broke this pattern too; and is going toward the upper line of the major inverted wedge pattern. If GRT breaks this major pattern upward, and I think it will, a huge rise is anticipated from a long-term perspective. Let's see what happens.
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GRT approaching the major downtrend line. The analysis is still valid. Let's see what happens.
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So, GRT broke the major downtrend line and going up. There are several resistance areas and targets on its way. Let's see what happens.
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So, GRT went up and reached the major horizontal resistance area. Couldn't break the area, then went into correction. Have to wait first for GRT to break the minor downtrend line. Let's see what happens.
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So, GRT couldn't break the major horizontal resistance area; thus correction started and GRT went down and made a pullback on the broken major downtrend line. It seems GRT is moving in an ascending channel, and is currently at the bottom. Could GRT repeat the last upward movement when broke the minor downtrend line? Let's see what happens.
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