The post The Graph (GRT) Price Poised To Rally 70-80% in November appeared first on Coinpedia Fintech News
In recent months, the indexing protocol The Graph (GRT) has captured the attention of altcoin investors, thanks partly to its growing adoption within the Web3 and decentralized finance (DeFi) ecosystems. Backed by an experienced team with roots in the Ethereum Foundation, Salesforce, Barclays, and more, The Graph has developed an open data layer easily accessible to DeFi developers. This development has contributed to a robust ecosystem that supports a bullish outlook for GRT’s future.
How Far Can GRT Price Rally?
Crypto analyst Captain Faibik recently shared his insights on the future trajectory of GRT’s price on the X platform. According to Faibik, GRT is primed for a rally of 70-80% in November, following a breakout from a falling wedge pattern that had previously constrained its price for eight months. This bullish outlook is further supported by a perfect head and shoulders (H&S) formation weekly. The weekly Relative Strength Indicator (RSI) also indicates a bullish divergence following a 30% spike in the past seven days.
Despite being a relatively young altcoin that has yet to experience an entire crypto bull market, GRT is well-positioned for significant growth. Analysts predict that GRT could potentially rally 100X during the next crypto bull market, anticipated to be triggered by the fourth Bitcoin halving in April of next year. Furthermore, the demand for The Graph project will continue to rise, fueled by the burgeoning ecosystem of DeFi and Web3 projects.