- GRT trades at $0.08978, holding above key support at $0.08792 despite a 2.7% weekly decline.
- Resistance at $0.09178 and the counter trendline remain the major barriers restricting upward momentum.
- A breakout above the trendline could shift the range, with $0.20 identified as the next notable resistance level.
The Graph (GRT) is trading near a decisive level as the price consolidates below a long-standing counter trendline. Currently, GRT changes hands at $0.08978, marking a 2.7% decline over the past week. The token has maintained resilience by holding support at $0.08792, even as resistance at $0.09178 continues to limit upward moves. Notably, this consolidation comes after months of gradual declines that followed the December 2024 peak, where GRT had posted a 158.27% surge.
Key Resistance and Support Levels
GRT’s immediate trading range remains tight. Support stands at $0.08792, preventing further downside pressure for now. On the other hand, resistance has formed at $0.09178, capping attempts to break higher. This narrow band reflects a market waiting for direction. However, traders continue to monitor the counter trendline as the next trigger for potential momentum. The previous breakout in late 2024 pushed prices sharply higher, underlining the significance of such formations.
GRT Approaches Descending Trendline as Traders Watch for Potential Breakout
The chart highlights how GRT has respected its descending trendline since December. Each attempt to break above has been met with renewed selling. Still, the token now trades close to this barrier, increasing attention on whether a breakout could unfold.
Historical data shows that clearing trendlines often precedes measurable rallies, and GRT previously advanced from $0.18 to nearly $0.30 during its last breakout phase. A similar setup now suggests that the $0.20 zone could act as the next resistance if momentum strengthens.
Trading Range and Market Outlook
Over the past 24 hours, GRT has moved within a tight range between $0.08792 and $0.09178. The price action indicates compressed volatility that may presage larger moves after the current structure resolves. Traders are therefore watching whether the token sustains its support while testing resistance. The short-term focus remains fixed on the counter trendline, as a decisive move through it would reshape the prevailing trading range.
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