For the past seven months, the Graph token price has been falling in response to a wedge pattern. However, during this fall, the token price has retested the pattern converging trendlines multiple times, indicating the trades are respecting this technical and should also meet its potential target after pattern completion.
Key points:
The coin price will remain in a bear trend until the wedge pattern is intact
The Graph price faces high supply pressure at the $0.0664 mark.
The intraday trading volume in the Graph is $428 Billion, indicating a 202% gain
Source- Tradingview
In theory, the falling wedge pattern reflects the loss of bearish momentum as the prices turned down from the resistance trendline fail to achieve deeper correction as before. Thus, a bullish breakout from the overhead resistance will complete this pattern and trigger a direction price rally.
Coming to the current price scenario, the Graph token price showed an 11% jump earlier today. With a high volume spike, the
We współpracy z: https://coingape.com/markets/this-chart-pattern-restricts-price-growth-in-graph-token-keep-holding/
