GRTUSDT – Here’s What You Need to Know!
2024-09-19

About The Graph (GRT): The Graph is a decentralized indexing protocol designed to query blockchain data effectively, similar to how search engines work for the web. This innovation is crucial for Web3 applications. With a market cap of $1.45 billion and 24-hour trading volume of $49 million, GRT is gaining attention among investors.

Impact of Rate Cuts: The Federal Reserve's recent 50 basis point rate cut is providing liquidity into riskier assets like altcoins, benefiting projects like GRT. Lower interest rates typically lead to greater risk appetite, and with GRT’s position in the Web3 ecosystem, it stands to gain in the coming months.

Good Entry Point: Currently, GRT is trading around $0.15, which presents a solid entry point, as it sits above key support levels. The primary support is at $0.095, while the immediate resistance is around $0.48. A breakout above this resistance could push GRT into a strong bullish run.

Technical Analysis:
📊 GRT is showing potential for a breakout with targets at:

Primary Objective: $0.75

Maximal Extension (Moonshot Target): $13.73

Support Levels: $0.095

Resistance Levels: $0.48 (initial), $1.73 (long-term)

This chart highlights the potential for GRT to rally if it breaks through its immediate resistance. With the favorable macroeconomic backdrop and solid fundamentals, this might be an ideal time to watch GRT closely. Watch for strong volume and a close above resistance to confirm the breakout.

One Love,
The FXPROFESSOR 💙

 *If you like GRT, perhaps it’s also time to look into diversifying with AI + Crypto potential unicorns like CRGPT.