The Graph (GRT) price has experienced a bullish turn, gaining 10% in the past 24 hours to reach $0.1138. This surge comes as investors react to the protocol’s recent update. The Graph team announced an update to its protocol that allows users to seamlessly upgrade to The Graph Network. The three-phase plan includes Sunray, Sunbeam, and Sunrise, with each phase bringing new features and improvements to the network. Additionally, The Graph Network will be hosting the upcoming Datapalooza event on November 13th in Istanbul, which is expected to showcase Web3 data innovations.
These developments, combined with positive sentiment in the cryptocurrency market, have sparked investor interest in GRT. Trading volume has increased by 44% to $90 million, and GRT has seen double-digit gains, placing it among the top 100 digital currencies.
The recent price action of GRT shows a breakout from a descending parallel channel on the daily chart. Buyers stepped in around $0.078, resulting in a 53% spike that pushed the price to a high of $0.112. Bulls will now aim to break through resistance at the $0.12 psychological level and move towards the $0.20 supply zone, which would represent a 76% climb from the current level.
Technical indicators such as the Stochastic RSI and moving averages support the bullish outlook for GRT. However, there is a possibility of a price correction if selling pressure increases. A daily close below the 200-day EMA at $0.1033 could trigger further selling and bring GRT back into the falling channel.
In other news, Bitcoin Minetrix is causing excitement with its presale surpassing $3.1 million. This project offers an alternative solution for Bitcoin mining and has undergone a comprehensive audit for added security. Analysts are optimistic about Bitcoin Minetrix’s potential as a disruptive force in cloud mining, especially with the upcoming Bitcoin block halving. The project is currently priced at $0.0114 and is expected to experience a price increase in the coming days.
In conclusion, The Graph price has seen a bullish turn following the protocol’s update, while Bitcoin Minetrix is gaining attention with its presale success. Both projects have garnered investor interest and are expected to make further gains in the future.
Hot Take: The Graph Price Sees Bullish Surge as Investors React to Protocol Update
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