The Graph price is consolidating in a continuation pattern known as “bullish pennant.” GRT could experience an 85% upswing after a successful breakout. A bearish scenario might develop if GRT slices through the pennant’s lower trendline at $1.85. The Graph price shows a bullish bias as a technical indicator flashed a buy signal recently. If buyers continue to pile up, then a massive bull rally can be expected. The Graph price begins countdown The Graph price is traversing a continuation pattern known as “bullish pennant.” This setup includes an initial 535% run-up known as “flag pole,” followed by a consolidation in a “pennant” since February 12. The technical formation forecasts an 85% upswing, identified by measuring the flag pole’s height and adding it to the breakout point at $2.20. This target places GRT at $4.06. Supporting this upswing is the buy signal that was printed on March 9. Therefore, a 12-hour candlestick close above the pennant at $2.20 seals GRT’s bullish fate. GRT/USDT 12-hour On the other hand, investors should pay attention to IntoTheBlock’s In/Out of the Money Around Price model, which shows 2,750 addresses that purchased roughly 164 million GRT at an average price of $2.06 are “Out of the Money.” So, short-term bullish momentum could be absorbed by these investors who might want to break-even. The Graph IOMAP chart Therefore a sudden spike in selling pressure at $2.06 could lead to a correction towards the pennant’s lower trendline at $1.85. However, a breakdown of the consolidation will invalidate the bullish thesis and trigger a correction towards the next immediate support around the $1.58 level. 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 GBP/JPY Price Analysis: Bulls battle 151.00 inside short-term ascending channel FX Street 1 year The Graph price is consolidating in a continuation pattern known as "bullish pennant." GRT could experience an 85% upswing after a successful breakout. A bearish scenario might develop if GRT slices through the pennant's lower trendline at $1.85. The Graph price shows a bullish bias as a technical indicator flashed a buy signal recently. If buyers continue to pile up, then a massive bull rally can be expected. The Graph price begins countdown The Graph price is traversing a continuation pattern known as "bullish pennant." This setup includes an initial 535% run-up known as "flag pole," followed by a consolidation… 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.