Graph Price Surge Faces Reversal as Short Positions Grow

The Graph (GRT) has surged by 15% to set a new local high on the chart, with its volume increasing by 180% to over $37 million in the past day.

This significant increase in buying momentum is evident across multiple exchanges where GRT is trading, with CoinGlass reporting that the Long/Short Ratio has reached roughly 1.008, indicating growing long dominance.

However, despite this bullish bias, there are warning signs that suggest a reversal may be imminent. The data suggests that top traders on Binance, based on account and position size, are leaning very bullish, with the Long/Short Ratio showing readings of 1.84 and 1.76 respectively.

Additionally, spot market netflows have remained consistently positive over a period of more than 15 days, implying increased selling pressure. The Funding Rate has also plummeted from a high of roughly 0.0045% to about 0.0005%, suggesting that short positions are continuing to grow.