The Graph (GRT) Token and AI-related project!
Hello and welcome to episode 15 of TA (Technical Analysis) Today we are diving into The Graph (GRT) Token!
Initially, when I started looking for cryptos based on AI-related projects, my first choice was The Graph Token. At that time I was not able to find the right entry in it but hence this token was included in my list of favourites. Yesterday the panic of fall in the US markets was seen in the crypto world as well and pressure was seen in most of the cryptocurrencies including Bitcoin and Ethereum. Due to which, after a big sell-off, a good buying momentum was seen in GRT Token near an important support. You can see the price action in the circled area in the screenshot below where I created my first position in this token a few hours ago.
You can read the fundamentals of this token yourself, it is undoubtedly a good project and the buyers' confidence is also visible in its price action on the support levels. As per my analysis, the white trendline shown in the screenshot is an important support from where yesterday we saw a good buying momentum with the bullish hammer candlestick pattern.
Even if we look at the current trend of price action, an upmove of 20 to 25% can easily be seen from this level and if the dominance of buyers can be maintained, then a move of up to 50% can also be captured in the GRT Token from here in a few weeks. I will sell 70-80% of my position near the upper level of the current trend and book profits. Then, I will patiently analyze the price near that upper level. If I see a continuation of buying momentum getting confirmed, then I will make a fresh buy; otherwise, I will hold the rest of my quantity. : )
Quite the first time I will be hearing about this project but definitely with the look of things, it is actually a project to look out for which will perform in years to come effectively as I am so sure of that
0.00 SBD,
0.00 STEEM,
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It is actually a good project and its chart is very attractive. I hope it will provide better returns in the next few weeks. Thank for your comment!
Upvoted! Thank you for supporting witness @jswit.
You have given us very important information today about The Graph (GRT) token and AI-related projects.
Thank you!