The ‘Google of Blockchain’ – The Graph (GRT) has kicked off 2023 with a sensational rally.
After a slow bleed out from the 2021 Bull Run – this top 100 coin is on the comeback. Cascading price action throughout 2022’s GRT death slide finally bottomed out at $0.05 on Dec 30.
Macro sentiment spurred initial price action for GRT. Markets were invigorated by a surprise dovish tone from the Fed, and as the S&P500 began to rise, so did crypto.
January’s uptick was unremarkable compared to GRT’s past performance on the markets. Yet, as Bollinger bands widened throughout the month – many price levels began to give way.
By the end of January, GRT had posted a 67% gain. And more importantly, had established an area of local support at $0.08 – $0.09.
The first weekend of February saw GRT skyrocket with a bang. Big green candles rocked up on the chart on February 4 as market Alt Season started to take hold.
A whopping weekend – which tore through tough resistance levels to leave GRT sat high at $0.20 – produced a 108% leg-up. Recapturing territory last seen in May 2022 – 10 months ago.
Today sat at $0.18 price action is now both bullish and perilous. A local retrace seems to be underway after this explosive price exploration.
How high could The Graph (GRT) go?
Consolidation is the key. If the price stabilizes above $0.17, it would set the stage for a run-up to test the next price level at $0.30.
But, if price moves for a full retracement to support – this would likely land GRT back at $0.08-$0.09.
Looking to the indicators. The RSI 14 overheated to a high degree on this latest pump – topping out at a seismic 91. Consolidation is already in effect as the RSI is cooling off quickly, already down to a comfortable 69.
This still signals bearish divergence. But the cooling off is reassuring for bulls – much-needed buy pressure remains.
The MACD has absolutely hammered up to a high 0.0043 – a strong signal of bullish divergence conflicting the RSI. This suggests GRT is very much in consolidation not retracement. This indicates another move up could come.
So with GRT in suspected consolidation, is it an attractive entry?
A move upwards to $0.30 is on the table – from current price levels that would produce a +64% gain. If a retracement back to local support at $0.09 occurs that gives a downside risk of -50%.
But why is The Graph (GRT) rallying up?
There is strong market recognition of the importance of The Graph. Posited as ‘the Google of Blockchain’. GRT enables developers to deploy ‘subgraphs’, which find and retrieve information from blockchains. Like LINK as a big data project, but with more of a search function 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 the most searched-for AI/Big Data project this year.
Critical to emboldening bulls on February 4 was the release of Messari’s State of the Graph Q4 report. This enthused the GRT community, which had suffered a very disappointing 2022.
The report highlights a 151% YoY growth in subgraphs deployed on The Graph main net. This has translated to a 265% YoY increase in revenue from query fees (search fees) on The Graph.
Furthermore, The Graph has recently launched a multi-chain incentivized program. This will see 75m 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. This depressed price action throughout 2021 and 2022 – but all GRT tokens have now been released to the market.
What other coins could explode like GRT this month?
Leveling up the GameFi: Meta Masters Guild
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’ll have access to a single native currency, the Meta Masters Guild token (MEMAG). Used for earning and transactions across all the games in the Meta Masters Guild ecosystem.
The MMG ecosystem prioritizes community engagement and fairness. Giving participants the chance to earn passively. And ensuring the economics surrounding 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.
Key to the success of this project is security of assets. Self-custody of in-game assets gives a sense of ownership and control over the gaming experience.
Investing in MEMAG is a chance to be part of a growing ecosystem that is shaking up the traditional gaming industry.
Not least of all because MEMAG bucks the trend in GameFi. Offering a strong entertainment offering before focusing on financial opportunities is promising.
Too many attempts to capitalize in the GameFi space have floundered on this simple level.
The presale of the $MEMAG token is currently underway. Offering an opportunity for early adopters to buy tokens at a discounted rate.
If you’re looking for a new way to play and earn, visit the Meta Masters Guild website to learn more and take part in the presale.
Delivering next-gen Move-2-Earn in Web3: Fight Out
Get ready to sweat and win big with Fight Out ($FGHT). The presale for the FGHT token is ending soon, and there’s no better time to jump on board.
Fight Out is changing the way we all will think about fitness. Not only does the app track your real-life workouts, but it also rewards you for participating in challenges, classes, and personal routines.
Fight Out is introducing the masses to move-to-earn (M2E) on Web3 and creating a new, fun way to approach fitness.
You’ll earn $REPS, 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 $250k to a lucky presale participant.
Don’t miss your chance to be a part of the revolution. Head to Fight Out’s website to learn more about the pre-sale and secure your spot in the future of sports.
Putting EV profits in your pocket: C+Charge
C+Charge ($CCHG) is a new cryptocurrency that’s shaking up the carbon credit industry.
This innovative start-up aims to take advantage of projected $2.4 trillion growth in the industry by 2027. And you don’t have to look far to see its relevance.
Up and down the roads, we’re seeing EV charging stations popping up for fleets of gleaming Teslas. And C+Charge is proposing a chance for everyday people to claim a slice 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 profit from the industry’s growth.
Currently, only big EV manufacturers like Tesla are taking advantage of carbon credits. Why should these profits centralize 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 the CCHG token is already underway, giving early investors a chance to get in on the ground floor of this eco-friendly project. There is also a $50k giveaway for early bird investors.
Join the C+Charge revolution today and be a part of a project that’s making a difference for the environment.
Don’t miss this opportunity to support a promising project that has the potential for big returns.
