- 55% of top GRT traders have buy positions, and 45% have sell positions.
- GRT tokens worth $15.77 million were leaked from the exchange.
Graph (GRT) appears to have significant upside potential, forming a bullish price pattern at press time.
Additionally, according to a report by on-chain analytics firm Coinglass, the asset has begun to attract significant interest from cryptocurrency enthusiasts, including traders and investors.
$16 million worth of GRT leaked
Data on spot inflows and outflows shows that exchanges have experienced significant outflow of $15.77 million worth of GRT tokens over the past few days.
However, these outflows began shortly after GRT reached levels historically associated with price reversals.
Source: Coinglass
In the cryptocurrency environment, outflow refers to the movement of assets from an exchange to the wallet of a long-term holder or investor. This indicates potential accumulation and suggests there may be buying pressure.
Traders’ optimistic bets
In addition to the optimistic sentiments of long-term holders and investors, traders have also shown great interest in the token, as revealed by the on-chain analytics firm.
At press time, the GRT long/short ratio was 1.20, meaning there was 1 short position for every 1.20 long positions, reflecting strong bullish sentiment among traders.
As of press time, 55% of top GRT traders hold buy positions and 45% have sell positions.
The strong bullish sentiment among traders and investors was driven by potentially strong bullish price action.
Technical analysis and future levels
Technical analysis by AMBCrypto shows that GRT is forming a bullish descending wedge pattern on the daily time frame.
This pattern indicates a downtrend in which the price makes lower highs and lower lows, forming a narrow downward channel.
Source: TradingView
In this pattern, the asset price repeatedly tests the lower trendline before eventually breaking the upper trendline. At the time of writing, GRT was at the lower trendline and moving towards the upper trendline.
Based on recent price action, GRT could easily surge 15% and reach the upper trendline of the pattern.
However, if it breaks the pattern and closes the daily candle above the $0.22 level, it is likely to surge 50% and reach the $0.34 level in the next few days.
Read Graph (GRT) price forecast for 2025-2026
GRT is trading near $0.188 at press time and has experienced an upward momentum of 3.75% over the last 24 hours.
However, during the same period, trading volume increased by 4%, showing a slight increase in trader and investor participation compared to the previous day.