- 55% of the top GRT traders held long positions, while 45% held short positions.
- Exchanges have experienced an outflow of GRT tokens worth $15.77 million.
The Graph [GRT] appeared poised for a significant upside as it formed a bullish price pattern at press time.
In addition, the asset had started gaining considerable attention from crypto enthusiasts, including traders and investors, as reported by the on-chain analytics firm Coinglass.
$16 million worth of GRT outflow
Data on spot inflow and outflow revealed that exchanges have experienced a significant outflow of GRT tokens worth $15.77 million over the past few days.
However, this outflow started shortly after GRT reached a level historically associated with price reversals.
Source: Coinglass
In the cryptocurrency landscape, outflow refers to the movement of assets from exchanges to long-term holders or investors’ wallets. This indicates potential accumulation and suggests possible buying pressure.
Traders’ bullish bet
In addition to the bullish sentiment of long-term holders and investors, traders have also shown strong interest in the token, as revealed by the on-chain analytics firm.
At press time, the GRT Long/Short Ratio was 1.20, indicating that for every 1.20 long position, there was one short position, reflecting a strong bullish sentiment among traders.
At press time, 55% of top GRT traders held long positions, while 45% held short positions.
The strong bullish sentiment among traders and investors has potentially been driven by its robust bullish price action.
Technical analysis and upcoming levels
According to AMBCrypto’s technical analysis, GRT appeared to be forming a bullish falling wedge pattern on its daily time frame.
This pattern indicates a downtrend in which the price forms lower highs and lower lows, creating a narrowing downward channel.
Source: TradingView
In this pattern, the asset’s price repeatedly tests the lower trendline before eventually breaking above the upper trendline. At the time of writing, GRT was at the lower trendline and was moving toward the upper trendline.
Based on the recent price action, GRT could easily surge by 15% to reach the upper trendline of the pattern.
However, if it breaches the pattern and closes a daily candle above the $0.22 level, there is a strong possibility it could soar by 50% to reach the $0.34 level in the coming days.
Read The Graph’s [GRT] Price Prediction 2025–2026
GRT was trading near $0.188 at press time, having experienced an upside momentum of 3.75% in the past 24 hours.
However, during the same period, its trading volume increased by 4%, indicating a modest rise in trader and investor participation compared to previous days.
