Decentralized, open-source infrastructure protocol, The Graph, has allocated $1.5 million for the building of its ecosystem.

The crypto industry has set up many goals for itself in the past, with some of them being achieved successfully, while others, unfortunately, failed. However, never before did the industry become so obsessed with a singular goal as it is now when it decided that it wishes to achieve Web 3.0. To this extent, countless projects started integrating with one another, combining their unique technologies, building bridges, and taking interoperability to the next level.

The blockchain and cryptocurrency industry has become tremendously versatile over the years. Dedicated projects like The Graph may often fly under the radar, although they provide crucial infrastructure. In this article, we will take a closer look at the project and its GRT token.

The Graph (GRT) has bounced considerably since its Jan. 24 lows, but has yet to reclaim a crucial horizontal resistance level. It has to do so in order for the trend to be considered bullish.

As mentioned in my previous article on Graph, the GRT token was experiencing intense selling pressure of the prior swing high of $1.085 resistance, resulting in a bearish reversal in its technical chart. However, on November 7th, the token price finally managed to break free from this crucial resistance, providing an excellent long opportunity for crypto traders.

The Graph price is crawling back as sentiment in the cryptocurrency industry and stocks improve. GRT, its native token, is trading at $0.7081, which is a few points above this month’s low of $0.5728. Its total market capitalization has dropped to more than $3.7 billion. It is the 46th biggest cryptocurrency in the world and is sandwiched between Helium and Tezos.

The Graph protocol has been enjoying significant popularity in the DeFi space lately, especially after Ethereum co-founder Vitalik Buterin announced a strategic roadmap to expand the available data space for roll-ups using the Graph protocol.

Ethereum co-founder Vitalik Buterin revealed a strategic roadmap to expand the available data space for rollups using Graph protocol. The token’s trade volume has increased, and analysts expect an upwards move in GRT price.

The Graph Price recovered massively throughout March 2022. GRT coin is trading bullish with strong uptrend momentum over the daily chart. GRT investors are all prepared to hit the primary resistance level of $1.00 mark. However, bears may interrupt in between and may try to steal the show from bulls, but GRT bulls must sustain.

The Graph price analysis reveals that a downward movement in GRT/USD price has been observed today, which has cast quite a negative impact on the overall coin value. The price has been degraded up to $0.997 value after the bearish trend. Although a constant improvement in price has been recorded in the last two weeks, today’s trend has proved in the favor of the bears. The selling momentum is to intensify in the approaching hours as well.

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The Graph’s GRT price has increased 5.41% over the past 24 hours to $1.01. Over the past week, GRT has experienced an uptick of over 17.0%, moving from $0.96 to its current price. As it stands right now, the coin’s all-time high is $2.84.

The Graph price is trying to register its breakout from the descending triangle pattern over the daily price chart. GRT must accumulate buyers in order to escape the pattern. All other altcoins have also started their recovery as Bitcoin, the traditional cryptocurrency, recovered above $20000 level and is now trying to sustain above it. GRT is also preparing for its breakout and is trying to surge out of the descending triangle pattern. GRT must maintain the uptrend momentum to sustain at the upper trendline of the descending triangle pattern.

GRT crypto market dominance along with its market cap is observing a bearish downtrend in the daily chart and can soon see a new high. The asset price has to go more than 65% from its current level to break its ATH. The volume to market cap ratio of the GRT is currently near 0.11, and if the ratio jumps over 0.9 then a strong bullish trend can be seen.

The Graph Coin Price: The Graph coin is one of the popular coins among crypto investors. This coin ranked at 42 based on coin market capitalization, according to coinmarketcap. The price of the coin while writing this article is $1.01.

GRT has been decreasing underneath a descending resistance line since May 15. The downward movement led to a new all-time low price of $0.089 on June 30.