If fundamentals remain consistent: fibo numbers reveal strong (LONG-SUPERLONG) term entry point for HODLers/low risk low reward buyers to jump in and buy The Graph, aka GRT , where we could see the next major resistance at $1.752 being tested.
This is a near possibility, given that besides market support, increased activity on The Graph’s blockchain has also spiked.
On the other hand, we could also see The Graph heading towards lower support levels. If there is q slight slump in the market, the lower will be $0.98. Selloffs could trigger this if the market fails again. Another lower support also lies at $0.85.
The Graph is following the action of other blockchains that want to implement layer two solutions. To achieve this, the firm has linked up with Optimism, a layer two scaling platform on the Ethereum blockchain. If The Graph can achieve scalability, it could improve the performance of its blockchain and fuel adoption.
The Graph blockchain also recently made a strategic partnership with Optimum. Optimum is an analytics site that is used for different coins so that traders can make informed decisions.
This strategic partnership will be a defining factor in the further priceaction for this platform ushering in the next quarter, enabling it to find an even stronger footing in the crypto sector.
Peace & Love
As always: green = Target, blue = PP , red = STOP && THIS IS NOT FINANCIAL ADVISE!