The ‘Google of Blockchain’ – The Graph (GRT) has started 2023 with a sensational rally.
This Top 100 Coin Is Coming Back – After a Slow Exit From the 2021 Bull Run. The cascading price action during the 2022 GRT Death Slide finally settled on December 30 with a low of $0.05.
Macro sentiment drove the initial price action for GRT. The Fed’s surprising dovish tone strengthened the market, and as the S&P500 started rising – so did crypto.
Compared to GRT’s past performance in the markets, the uptick in January was not remarkable. Nevertheless, as the Bollinger Bands widened throughout the month – several price levels began to give way.
GRT had posted a 67% gain through the end of January. More importantly, it has established a local support area at $0.08 – $0.09.
The first weekend of February saw GRT skyrocket with a bang. The large green candlestick on the charts moved on February 4th as the alt season started to gain momentum.
A tremendous weekend – which broke through tough resistance levels to leave GRT sitting as high at $0.20 – produced a 108% leg-up. Recapture Zone was last seen in May 2022 – 10 months ago.
Today sat at $0.18 The price action is now both bullish and dangerous. A local retracement is underway following this explosive price discovery.
How high can the graph (GRT) go?
Consolidation is the key. If the price stabilizes above $0.17 then it will set the stage for a run-up to test the next price level at $0.30.
But, if the price moves for a full retracement to the support – it could bring the GRT back to $0.08-$0.09.
Looking at the indicators. RSI 14 heated up to a higher level on this latest pump – topping out at a seismic 91. Consolidation is already in effect as the RSI is cooling down quickly – already up to a comfortable 69.
It still signals bearish divergence. But the cooling off is reassuring for the bulls – the much needed buying pressure remains.
The MACD has reached an all-time high of 0.0043 – a strong signal of bullish divergence in opposition to the RSI. This shows that GRT is very much in consolidation and not retracement. This indicates that another move may be coming.
So with GRT in questionable consolidation, is this an attractive entry?
An upside move towards $0.30 is on the table – which would generate +64% profit from current price levels. If there is a retracement to the local support at $0.09 that gives a downside risk of -50%.
It offers a risk:reward ratio of 1.27 – an attractive proposition on the lower time frames.
But why is The Graph (GRT) rising?
There is strong market recognition of the importance of The Graph. Hailed as the ‘Google of Blockchain’. GRT enables developers to deploy ‘subgraphs’, which seek and retrieve information from the blockchain. Like Linq as a big data project, but with more search functions as opposed to data feeds.
amid a flurry of interest in blockchain projects that focus on AI and Big Data – GRT has blossomed. In fact, the graph is most searched For AI/Big Data projects this year.
Messari’s State of the Graph Q4 release was key to encouraging bulls on Feb 4 reports, This enthused the GRT community, which had a very disappointing 2022.
The report highlights a 151% year-over-year increase in subgraphs posted on The Graph Mainnet. This translated to a 265% increase in revenue from query fees on The Graph.
In addition, The Graph recently launched a multi-chain incentive program. This will see 75 million in GRT given to indexers in the network to drive ecosystem growth.
The final driving factor is the end of GRT’s 3-year token release Schedule, It declined in price during 2021 and 2022 – but all GRT tokens have now been issued to the market.
What other coins could explode like GRT this month?
Putting EV Profits in Your Pocket: C+Charge
C+Charge ($CCHG) is a new cryptocurrency that is shaking up the carbon credit industry.
The innovative start-up aims to leverage the industry’s projected growth of $2.4 trillion by 2027. And you don’t need to look far to see its relevance.
Up and down the streets of the West we’re seeing EV charging stations for fleets of gleaming Teslas. And C+Charge is offering everyday people an opportunity to claim a piece of the pie.
The company offers a peer-2-peer (P2P) payment system for electric vehicle (EV) charging using blockchain technology.
With this system, EV drivers can earn carbon credits and benefit from the growth of the industry.
Currently, only large EV manufacturers such as Tesla are taking advantage of carbon credits. Why concentrate these profits in the hands of a few?
C+Charge aims to level the playing field and put these rewards in the hands of EV owners.
The pre-sale of CCHG tokens is already underway, giving early investors the chance to get in on the ground floor of this eco-friendly project. There’s also a $50k giveaway for early bird investors.
Join the C+Charge revolution today and be a part of a project that is making a difference for the environment.
Don’t miss this chance to support a promising project that has the potential for huge returns.
Delivering the next generation of Move-2-Earn in Web3: Fight Out!
Get ready to sweat it out and win big with Fight Out ($FGHT). pre Sales Expiration for FGHT tokens is coming soon, and there’s no better time to jump on board.
Fight Out is changing the way we all think about fitness. The app not only tracks your real-life workouts, but it also rewards you for participating in challenges, classes, and personalized routines.
Fight Out is introducing people to Move-to-Earn (M2E) on the Web3 and creating a new, fun way to approach fitness.
You’ll earn $REPS, which is redeemable for discounts and perks. And using the in-app native utility token $FGHT gives you even more exclusive benefits. This includes the chance to level up your earnings!
To sweeten the deal, they’re giving away $250k to one lucky pre-sale participant.
Don’t miss your chance to be a part of the revolution. Visit Fight Out’s website to learn more about the pre-sale and to secure your spot for future games.
Leveling Up Gamefy: Meta Masters Guild
The Meta Masters Guild (MEMAG) is introducing a new way to play and earn with its decentralized GameFi ecosystem.
This innovative platform combines high quality mobile games with the power of blockchain technology.
As a player, you will have access to a native currency, the Meta Masters Guild Token (MEMAG). Used for earning and transacting across all games in the Meta Masters Guild ecosystem.
mmg ecosystem Prioritizes community engagement and fairness. Giving participants an opportunity to earn passively. And ensuring the economics around the experience don’t limit the experience.
With three high-octane titles including Meta Kart Racers in the pipeline and partnerships on the horizon. MEMAG has explosive potential.
The key to the success of this project is asset protection. Self-custody of in-game assets gives a sense of ownership and control over the gaming experience.
Investing in MEMAG is your chance to be part of a growing ecosystem that is shaking up the traditional gaming industry.
Not least because MEMAG bucks the trend in GameFi. A strong entertainment offering is promising before focusing on financial opportunities.
Too many attempts to capitalize on the GameFi space fail on this simple level.
The pre-sale of $MEMAG tokens is currently underway. Providing early adopters with an opportunity to purchase tokens at a discounted rate.
If you’re looking for a new way to play and earn, visit the Meta Masters Guild Website To learn more and to participate in the pre-sale.
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