The Graph Price convincingly rebounds from a test of the February low. Local head-and-shoulders bottom breakout confirms buying interest. Simple moving averages (SMA) now are support rather than resistance. The Graph price was not able to avoid the wave of selling in the cryptocurrency complex last week. As a result, it briefly tested the February low at $1.333 before consolidating in a head-and-shoulders pattern and then rallying an additional 19%. On the fundamental side, recent Santiment data provides a mixed picture, but green shoots are forming that should be positive for the rally’s sustainability. The Graph price rebound triggering social media activity Like The Graph price, social volume is on an uptrend, according to Santiment. Data shows that “crypto social media bottomed out a few days ago and now seems to be increasing” as prices rebound. Moreover, the active addresses amount is currently above 1.7K, proving that “GRT tokens are being used” and on-chain activity has stabilized. Source: Santiment (March 29, 2021) On March 22, GRT decisively broke down below the lower trendline of a symmetrical triangle and raced to the February low. Traders had become impatient with the consolidation and quickly exited, removing the weak holders from the market. The rebound has been compelling and on heavy volume based on the 4-hour chart, particularly after the breakout from a local head-and-shoulders bottom. GRT is now consolidating the rally just under the March 20 high at $1.878 and well above the 50 four-hour SMA and the 100 four-hour SMA. Once the short-term overbought condition is released, the altcoin should jump to the March 9 high at $2.207, delivering a 26% gain from the current price. Additional upside targets include the 0.618 and 0.786 Fibonacci retracement levels of the February-March bear market at $2.292 and $2.560. GRT/USD 4-hour chart The support levels are the 100 four-hour SMA at $1.647 and then the 50 four-hour SMA at $1.569, followed by the February and March lows around $1.32. A failure to hold would raise the odds that GRT won’t test the all-time high for a long time. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Silver stalls at key daily support, bulls eye prospects of a 38.2% correction FX Street 1 year The Graph Price convincingly rebounds from a test of the February low. Local head-and-shoulders bottom breakout confirms buying interest. Simple moving averages (SMA) now are support rather than resistance. The Graph price was not able to avoid the wave of selling in the cryptocurrency complex last week. As a result, it briefly tested the February low at $1.333 before consolidating in a head-and-shoulders pattern and then rallying an additional 19%. On the fundamental side, recent Santiment data provides a mixed picture, but green shoots are forming that should be positive for the rally's sustainability. The Graph price rebound triggering social… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.