The Graph’s GRT token has declined to a critical support zone near $0.02–$0.03 amid falling trading volume. Analysts note the formation of a falling wedge pattern, which can signal potential for a rebound, but emphasize that a confirmed breakout is necessary to shift the long-term bearish trend. The token is currently trading at $0.02344.
The Graph (GRT) is trading at $0.02344, reflecting a 3.21% decline over 24 hours as daily trading volume fell 6.73% to $16.8 million. The token is now compressing near a historically significant support range between $0.02 and $0.03.
Crypto analyst Profit Demon stated that GRT is consolidating within a long-term falling wedge pattern on its two-week chart. This structure, formed by consistent lower highs and lower lows since the 2021 peak, reflects a prolonged bearish trend but also signals weakening downside momentum.
The analyst identified potential upside targets at $0.037, $0.055, $0.078, $0.120, $0.235, and $0.35 if a rebound occurs. Repeated rejections from the pattern’s upper trendline indicate persistent selling pressure near resistance levels.
Another analyst, Whales_Crypto_Trading, highlights a similar descending triangle formation on the weekly chart. The pattern suggests bearish momentum is gradually weakening as the price approaches the formation’s apex.
Analysts caution that any upward movement would be considered a counter-trend rally unless GRT breaks above key resistance and establishes higher highs. The $0.12 level is viewed as a critical resistance zone aligning with previous consolidation.
