After being a victim of capitulation in May, Графикон [ГРТ] has continued to struggle. It all started with a hefty price fall from $0.34 to $0.12 between 5 May and 12 May.
Despite a good recovery for many cryptocurrencies to surge above May levels, GRT did not concur to another three-month high. In June, it went further down to $0.09. Interestingly, GRT gave its investors some glimmer of hope in July—surging from $0.08 on 13 July to $0.14 on 30 July.
However, GRT seems to have returned to its old uninspiring ways. In the last 24 hours, it recorded an 11.44% dip to $0.11.
Не овог пута
The current GRT state appears to be unwilling to a price increase. According to Santiment data, GRT’s volume смањен sufficiently between 31 July and today (2 August). As of yesterday (1 August), it was 126.61 million. At press time, GRT volume had fallen to 71.95 million.
Additionally, the thirty-day MVRV ratio has not been impressive either, reflecting an 11.26% drop over the last 24 hours.
Извор: Сантимент
Expectedly, there has been a similar drop in market capitalization. While GRT claimed the $1 billion cap in the last week of July and held onto it till the first day in August, the present state shows otherwise.
Less, not more
Based on the GRT four-hour chart, there could be some consolidation for GRT investors. This is because the Chaikin Money Flow (CMF) in green could move above the zero line in favor of the buyers. Also, the On-Balance-Volume (OBV) might contrast with the CMF sentiment.
At press time, the OBV (blue) открила a downtrend even as the price continued to move further down. This move might prove that GRT investors may lose faith in the coin with increased selling pressure.
Извор: ТрадингВиев
These indicators might keep investors doubtful about the solid fundamentals GRT boats of. However, they can find solace in the Relative Strength Index (RSI), at press time, the RSI looked neutral.
Извор: ТрадингВиев
The RSI stance may, however, be too weak to project a GRT uptrend, especially as deposits on exchanges have taken a 406% fall over the last 24 hours as per ЦриптоКуант.
Nevertheless, it may be too soon to write off GRT in this third quarter (Q3). Still, investors can continue to watch the accumulation levels if it would record any rise, as this may result in a price spike.
Source: https://ambcrypto.com/the-graph-grt-short-term-investors-can-expect-this-in-q3-2022/