As you can see, no clear demand zone has been formed during the last BTC pull-backs on The Graph chart.
Although this token can be considered as a good long-term opportunity because of its use-case and low market capitalization, we could face a big sale in the medium term.
The Graph was promoted with pre-sales of the token at less than 5 cents. Early adopter's tokens were blocked to avoid massive sales during the bull run and to allow the possibility of integrating this technology into other interesting projects.
The massive gains it has made since that point, and the fact that it is estimated that most of these early investors will be able to sell their tokens around May, could trigger the medium-term sell-off that we warn.
Faced with this situation, we could have two scenarios, if BTC recovers its previous all-time high, it could boost the capitalization of the entire market, and after the fever of possible sales in the Graph, we could catch purchases at a good price. On the other hand, if BTC dominance continues to fall and the major Altcoins continue their bull run in the coming weeks, GRT would be left at its lows until the next season.
This is not a recommendation for you to sell, or to place short on futures, but an analysis to project purchases at the best possible price. We consider that this token could have a brilliant future in the long term.
If you want to receive daily insights like these, check our socials!
All the best, Alkaline.
Although this token can be considered as a good long-term opportunity because of its use-case and low market capitalization, we could face a big sale in the medium term.
The Graph was promoted with pre-sales of the token at less than 5 cents. Early adopter's tokens were blocked to avoid massive sales during the bull run and to allow the possibility of integrating this technology into other interesting projects.
The massive gains it has made since that point, and the fact that it is estimated that most of these early investors will be able to sell their tokens around May, could trigger the medium-term sell-off that we warn.
Faced with this situation, we could have two scenarios, if BTC recovers its previous all-time high, it could boost the capitalization of the entire market, and after the fever of possible sales in the Graph, we could catch purchases at a good price. On the other hand, if BTC dominance continues to fall and the major Altcoins continue their bull run in the coming weeks, GRT would be left at its lows until the next season.
This is not a recommendation for you to sell, or to place short on futures, but an analysis to project purchases at the best possible price. We consider that this token could have a brilliant future in the long term.
If you want to receive daily insights like these, check our socials!
All the best, Alkaline.
