GRT Likely To Retrace Short Term, Despite Bullish On-Chain Metrics
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- Santiment revealed in an X post today that GRT’s price has doubled since 19 October 2023.
- According to the post, there has also been a notable increase in transactions exceeding $100K.
- At press time, GRT was trading hands at $0.131 following a 24-hour loss of over 5%.
The Graph (GRT) has nearly doubled in price since 19 October 2023 and may continue to rise, according to the blockchain intelligence platform Santiment. In an X post published earlier today, Santiment noted that the altcoin has seen “major whale movement” with several new addresses being created on-chain.
— Santiment (@santimentfeed) November 8, 2023
#TheGraph has nearly doubled since October 19th, and there has been major whale movement and new addresses being created. To identify whether a #bullish trend can continue, the mean dollar age line moving down (like it has for $GRT) is often validation. https://t.co/mJZiZitJ9P pic.twitter.com/q0Dzp3dsPd
Santiment also revealed that the mean dollar average line for GRT is moving down. This suggests that the cryptocurrency’s bullish trend may continue in the short term.
Further on-chain analysis shows that The Graph has recorded its hi…
The post GRT Likely To Retrace Short Term, Despite Bullish On-Chain Metrics appeared first on Coin Edition.
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