In the past 24 hours, The Graph (GRT) price has declined by 4.79% to $0.31. This follows a 10.0% loss over the past week, with GRT moving from $0.34 to its current price. Volume has decreased by 1.0% over the past week, and the circulating supply has increased by 0.11% to 9.46 billion, representing 87.66% of the max supply.
The Graph's Downtrend Deepens, Price Falls Below $0.32
Over the past 24 hours, the price of The Graph (GRT) has witnessed a significant decline, plunging by 4.79% to reach $0.31. This downward trajectory extends the negative trend observed over the past week, where GRT lost 10.0%, plummeting from $0.34 to its current value.
The technical analysis reveals a concerning picture for GRT's short-term prospects. The daily price chart exhibits Bollinger Bands, a volatility indicator, showing widening bands, indicating increased volatility. The weekly chart presents a similar pattern, suggesting ongoing price fluctuations.
Traders should note that GRT's trading volume has decreased 1.0% over the past week, indicating reduced market activity. However, the circulating supply has experienced a slight increase of 0.11% to over 9.46 billion units. This represents approximately 87.66% of GRT's maximum supply of 10.79 billion.
In terms of market capitalization, GRT currently ranks 47th, with a market cap of $2.90 billion. This metric measures the total value of all circulating GRT tokens and signifies its overall market presence.
While GRT has experienced a notable price drop in recent times, it is essential to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Investors should exercise caution and conduct thorough research before making any investment decisions.
Analysts remain divided on the future prospects of GRT. Some believe the downtrend will persist, while others anticipate a potential rebound. Investors should monitor market developments and technical indicators closely to make informed decisions about their GRT holdings.
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