GRT Technical Analysis: Wedge Breakout Unleashes Bearishness

The GRT coin price is under extreme selling pressure, reflecting a bearish downfall continuing after the falling wedge breakout. The Graph is an indexing technology that allows you to query data for networks such as Ethereum that powers many applications within Defi and the wider Web3 ecosystem. Anyone is able to create and publish APIs that are openly known as subgraphs. Applications can use GraphQL to access blockchain information. The hosted service is in production, which lets developers begin creating applications using The Graph. And, the decentralized network is expected to launch in the next few months. The Graph is currently able to index the data of Ethereum, IPFS, and POA as well as other networks that will be added shortly. Let us move ahead to read about The Graph technical analysis. Past Performance of GRT The GRT coin price action shows more than a 30% fall in the past week, resulting in a bearish rally below the $0.40 mark. Moreover, the downfall gives a breakout of the falling wedge pattern in the daily chart. The post-breakout rally approaches $0.35 and the increasing selling pressure evident by the lack of bullish candles may soon give a bearish fallout. GRT/USD Daily Chart GRT Technical Analysis The GRT coin price shows increased selling pressure, evident by the 10% fall in the last 24 hours. Moreover, the lower price rejection near the $0.35 mark may soon get undermined with a bearish downfall. The crucial...