The Graph (GRT) Eyes Breakout at MA50 Resistance
The Graph (GRT) is testing the upper boundary of a multi-month descending channel near $0.098 while clustering around its 50-day moving average. Trading volume surged over 170%, indicating supply absorption as bulls defend higher lows. A daily close above the $0.0975–$0.0980 zone on rising volume would trigger an initial breakout target of $0.102, with subsequent resistance levels at $0.115 and $0.130. Short-term support lies between $0.093 and $0.094, with deeper demand zones at $0.090–$0.088. Failure to hold these levels could see retests down to $0.091. Market capitalization stands at approximately $989 million, with 24-hour volume near $68.3 million. Traders should watch for confirmation via a breakout-and-retest pattern and manage risk with stop-loss orders below recent swing lows. Clear momentum and volume cues will validate a sustained bullish move for The Graph.
Bullish
The Graph’s price compression against a long-term descending channel coupled with a 170% volume surge signals supply absorption and growing bullish conviction. Historical precedents—such as GRT’s October 2024 channel breakout—show that sustained high-volume closes above key resistance often lead to accelerated gains. The current accumulation near the 50-day moving average and higher reaction lows reinforce a bullish bias in the short term. If GRT clears and retests the $0.0975–$0.0980 zone successfully, traders can expect a rapid move toward $0.102 and beyond, driven by thin liquidity above resistance. In the long term, cementing above the channel would shift market structure to bullish, attracting momentum players and institutional interest. Tight stop-loss placement below recent lows allows defined risk for swing traders.