GRT is trading inside a symmetrical triangle, making lower highs and higher lows, suggesting further price consolidation prior to a breakout.
GRT is coming up on upper trendline resistance; if it breaks above on heavy volume, GRT could have a rally and continue in a bullish momentum.
A breakdown below triangle support may hand control to sellers, while oscillation within the pattern continues until a confirmed breakout occurs.
The Graph (GRT) continues to consolidate on the daily timeframe and is forming a symmetrical triangle pattern, which shows that the market is preparing for a breakout. The structure indicates equal pressure from buyers and sellers.
GRT Heads Toward Upper Trendline Resistance
According to the market analysis report from Alpha Crypto Signal, GRT appears to be printing distinct lower highs and higher lows in the context of the symmetrical triangle. The converging price action suggests that trading conditions are tightening and volatility is decreasing with a possible breakout pending.
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As the token appears to be coming up towards the upper trendline resistance, traders are keenly monitoring if the buying momentum remains powerful enough to be able to make a decisive break above this level. When we see a confirmed breakout above resistance, along with a significant increase in volume, then we can expect a bullish trend continuation and a rally upward.
Until then, this price looks like it will remain trapped in the triangle and will continue bouncing between support and resistance while the market seeks some certainty.
Breakout or Breakdown Remains Possible
While a bullish breakout remains a potential outcome, Alpha Crypto Signal notes that a breakdown below the lower support trendline would suggest the opposite scenario. This would shift control to the bears and could push the price lower in the short term.
Analysts emphasize that volume spikes and candlestick patterns near the trendline edges will be essential indicators for determining the next market direction. Given the current technical setup, GRT is positioned for volatility once the consolidation phase ends.
At the time of writing, The Graph (GRT) is trading at $0.09557 with a 24-hour trading volume of $49,415,630, reflecting a 2.88% decline over the past day but a 2.28% increase over the past week.
