The Graph (GRT) Emerges as Standout Performer in Latest Crypto Rebound, Surging 15%

The move follows Bitcoin's rally to above $90,00, driven in part by speculation around easing trade tensions

The Graph (GRT) has emerged as one of the standout performers in the latest crypto rebound, gaining over 15% as sentiment across digital assets turned sharply positive.

The move follows Bitcoin’s rally to above $94,000, driven in part by speculation around easing trade tensions and a broader macroeconomic tailwind that lifted risk assets, including equities.

That momentum spread to altcoins, with GRT among the top gainers within the 100 largest tokens by market capitalization.

What happened to The Graph price today?

As noted, The Graph saw its price surge by 15% in the past 24 hours. It is also trading more than 31% higher in the past week, which aligns with a broader altcoin rally after BTC spiked to above $94k.

On-chain activity, including staking by Indexers and Curators, continues to grow, potentially fueling further price gains for the altcoin.

Currently, GRT is trading hands at $0.102, after jumping to an intraday high of $0.103.

The altcoin, which has a 24-hour trading volume of $59 million (up 44%) and market cap of $997 million, is the 71st largest cryptocurrency.

Strong buying momentum, driven by renewed interest in decentralized infrastructure projects, has pushed The Graph price above a key level.

GRT reached its all-time high of $2.88 in February 2021.

Can GRT price break to $0.2?

GRT recently broke through a falling wedge pattern, a bullish technical setup that often signals a trend reversal.

In most cases, a retest of a key hurdle and subsequent explosive move adds to the intensity of a breakout.

As an analyst points out in the chart below, The Graph price’s breakout occurred as GRT surpassed the $0.1 resistance level.

While not a major move, it’s an area representing a key psychological and technical barrier highlighted with a falling wedge.

In the market, analysts observe falling wedge patterns, characterized by converging trend lines and decreasing volume, as a potential bullish flip. Buyers step in to push prices higher.

Recently, another analyst shared a GRT price chart displaying a “perfect ABCD harmonic pattern.”

According to Alpha Crypto Signal, the altcoin was poised for a recovery, with this scenario unfolding on the weekly time frame.

If positive sentiment prevails, GRT price could target $0.15 and then $0.2.

However, failure to sustain above $0.1 might lead to GRT retesting support around $0.072.