The Graph is on a bull run today, with more than a 65% gain in price within 24 hours, confirming the current uptrend. The token is trading at $0.21 and ranked number 41 on the crypto market list, according to CoinMarketCap. The Graph, like other cryptocurrencies, has enjoyed a positive start to the year. It traded between the $0.06 – $0.09 range between January 8 and February 3.
It achieved new price levels on February 4, when it traded at the $0.1 level for the first time in 2023. Its current price form could break more resistance levels if the bulls persist. Usually, various factors directly or indirectly influence the price of a crypto asset in the market. So what’s pushing the Graph up?
The Graph Introduces New Record For Decentralized Apps Boosting Its Price
DappLooker, an analytical platform, reports that last week was record-breaking for the graph network. A new record was set for the highest number of Decentralized Applications (DApps) querying the Graph network in the past two months.
Last week set a new record with the highest number of Dapps querying the @graphprotocol network in the past 2 months 📢
✅ 129+ unique #Dapps queried the network
📊 2.2M+ GRT queried in total and growing https://t.co/axf2UAMKW5#blockchain #decentralized #Web3 pic.twitter.com/q03BTf76yM
— DappLooker (@dapplooker) February 5, 2023
Over 129 DApps queried the network, with over 2.2 million GRT queried. These stats prove that users’ interest in the network is increasing and is driving the price surge.
GRT’s Educative Interviews Spiking Community Interest And Driving The Rally
Also, the Graph network holds educative interviews to help their growing community understand the project’s scope. Historically, community-based cryptocurrencies perform better in the market since increased interest sometimes translates to more trading activities.
🚀 There’s a lot of talk about $GRT right now on CT. But what is @graphprotocol, what does it do for #web3, & where is it going?
After recording +100 interviews w/ members of the ecosystem, we’ve got the answers.
🧵 Here’s a thread to help get you started! #TheGraph #GRT
— GRTiQ (@grt_iq) February 6, 2023
The Graph (GRT) Price Prediction
The Graph is soaring on the price chart with its most successful green days since the start of the year. The long green candle today indicates major bullish pressure on the asset’s price. Also, the candle has broken out on the upside of the price channel, which is in an uptrend indicating a further rise in the token’s price.
The Graph is trading today at $0.21 on the price chart. The support levels are $0.15 and $0.17, and the resistance levels are $0.23, $0.24. GRT has broken its three resistance levels causing the price to surge even further on the charts. The bullish engulfing pattern formed by today’s candle shows that the bulls will continue to dominate the market.
The asset is trading above its 50-day Simple Moving Average and 200-day SMA. It means that the short and long-term sentiment for the asset is bullish. The Relative Strength Index (RSI) is bullish and in the overbought zone at 87.54, which is a strong buy signal. The Moving Average Convergence/Divergence (MACD) is above its signal line and still rising, indicating the bull’s pressure on the price.
Expect GRT’s price to rise to the $0.25 level in the current days since it has broken its resistance levels today. However, the bullish trend might cool off for a while to consolidate for another charge on the price charts.
Crypto Projects That Could Be The Next Big Thing
Meta Master Guild (MEMAG)
The project has generated a buzz in the crypto community. Meta Masters Guild seeks to connect users to advanced Web3 gaming in the growing Metaverse. The presale stages of the project have been a success, with over $2.63 million raised. MEMAG, the native token on the network, is worth $0.019 and drives activities on the platform.
Meta Masters World and Raid NFT are some games that will launch on the network. Also, the platform is hosting a $100,000 giveaway for its users to increase interest and investments in the project. Meta Masters is a hub for gamers with a pleasant User Interface.
C+ Charge (CCHG)
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— C+Charge (@C_Charge_Token) February 6, 2023
This platform aims to reduce carbon emissions and help achieve a cleaner environment. Electric Vehicles owners have struggled, in the past, to find reliable car charging systems for their vehicles. C+ Charge has created a system where EV users will receive carbon credits as rewards for charging their vehicles. Its token CCHG is on presale and has realized over $370,000. It has the potential to increase in value, rewarding early investors. The platform is currently hosting a $50,000 giveaway for its users.
Fight Out (FGHT)
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— Fight Out (@FightOut_) February 6, 2023
Physical fitness is a priority, as most individuals seek to lead healthier lives. The Fight Out platform rewards users based on their physical activities. This move-to-earn platform has recorded success at the pre-sale, raising over $3.2 million. FGHT is already on many watchlists and is worth $0.033 at the moment. The project will remain relevant in the future since physical activity is part of our everyday lives.
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