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The Graph (GRT) buyers find renewed optimism as the token displays signs of recovery, having experienced a 9% jump from its strong support level.
The token’s daily trading volume has increased to $138 million, a jump of 73.3%, which supports the rise. This has positively impacted GRT’s weekly performance, registering a 23.4% increase.
Further, graph.eth deposited $50 million worth of $GRT (equivalent to $5 million) into #Binance following an increase in $GRT.
graph.eth deposited 50M $GRT($5M) to #Binance after the price of $GRT increased.
graph.eth last sold a large amount of $GRT between Dec 15, 2022 and Feb 7, 2023, which was also during the rise of $GRT.https://t.co/yZE9mED26E pic.twitter.com/Sc0mmOE9Qj
— Lookonchain (@lookonchain) October 26, 2023
They had previously sold a substantial amount of $GRT between December 15, 2022, and February 7, 2023, coinciding with the uptrend in $GRT’s price.
According to GeckoTerminal.com, GRT is currently trading at $0.017 as of 10:39 a.m. EST. This reflects a 1.6% decline in the past 24 hours.
The bulls in the GRT market are encountering resistance at the 200-day simple moving average, located at $0.10. The price has bounced back from the lower boundary of a falling wedge pattern, creating a robust support level at $0.0785.
This movement within the descending wedge pattern has propelled the price above the 50-day Simple Moving Average (SMA), which is now functioning as a support, signaling a shift towards a bullish rally.
At the time of writing, the bulls have successfully breached the falling wedge pattern and are presently experiencing a correction from the bears as they attempt to retest the upper boundary of the wedge.
Bulls May Encounter a Firm Rejection at the $0.10 Resistance
The relative strength index (RSI) reinforces this bullish sentiment, as it’s currently at 65 after rebounding from a level of 36. This positive momentum could persist above the overbought threshold, potentially facilitating a price breakthrough above the 200-day Simple Moving Average (SMA).
There is a significant possibility of a breakout to the upside. If the bulls can maintain their current momentum, they could successfully breach this resistance level, keeping the price above the upper boundary of the wedge. This could kickstart a further rally as the bulls aim to drive the price to new highs, possibly reaching $0.14.
However, it’s important to note that the $0.10 resistance level, which coincides with the 200-day SMA, presents a challenge that the bulls must overcome.
The bears may seize the opportunity during this correction, potentially leading to a bearish breakdown and causing the price of GRT to drop to $0.0856. If the price falls below this support zone, the bulls could seek refuge at the $0.073 support zone.
In the meantime, GRT investors might consider BTCMTX, which is experiencing remarkable success in its presale and providing a profitable mining program.
BTCMTX, 1 Day Left Until Price Increase
The BTCMTX presale has exceeded $2.2 million in funding, and now stands at $2,381,164. Its presale price has increased to $0.112, indicating growing recognition within the blockchain community for Bitcoin Minetrix and its groundbreaking tokenized cloud mining solution.
This price, however, will increase in less than a day as the token presale enters the next stage, 4. This achievement underscores its appeal to the cryptocurrency community.
#BitcoinMinetrix has achieved another significant milestone! ✅
Accumulating over $2,200,000 raised. pic.twitter.com/NcfrJYIZel
— Bitcoinminetrix (@bitcoinminetrix) October 24, 2023
Get BTCMTX Tokens, Stake, Win $3000 Airdrop
Bitcoin Minetrix allows users to stake their tokens in mining activities, promising substantial rewards and an impressive 254% Annual Percentage Yield (APY). This potential for significant returns is a key reason to consider Bitcoin Minetrix.
Additionally, the platform’s focus on affordability, security, user control, and risk management adds to its attractiveness.
You also have an opportunity to win $3,000 by taking part in Bitcoin Minetrix. This process includes three easy steps: acquire tokens, stake them, and begin earning rewards on their official website. Additionally, the project hosts a generous $30,000 giveaway, where ten lucky winners will receive $3,000 each.
The $BTCMTX #Token, when utilised in an #Ethereum based smart contract, functions as the key to unlock #Bitcoin cloud mining. 🔓
Users can easily buy and use #BTCMTX tokens to acquire cloud mining credits, which can be exchanged for hashing power. ⛏️ pic.twitter.com/dQv3FsED2v
— Bitcoinminetrix (@bitcoinminetrix) October 26, 2023
With a strong marketing strategy and positive media coverage, Bitcoin Minetrix appears well-positioned for success. The project emphasizes stability and sustainability with a total token supply of 4 billion, released gradually and in a controlled manner.
Joe Parys Crypto, a prominent crypto influencer on YouTube, has showcased the project’s benefits to his 383k subscribers on his YouTube video.
Bitcoin Minetrix accepts ETH, USDT, and credit cards as modes of purchase, allowing you to acquire BTCMTX tokens and stake them to earn rewards with as little as $10.
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