GRT's Sudden Surge May Be a False Dawn

The Graph (GRT) cryptocurrency surged 15% to set a new local high on the chart, reaching $0.02 in value.

This impressive growth is backed by strong momentum, with trading volume increasing by 180% to over $37 million in the past day.

However, despite this bullish trend, there are warning signs that the rally could face a reversal. Short positions, or sellers, are gradually betting on a decline.

The Long/Short Ratio, which tracks the accounts and positions of Binance traders, shows readings of 1.84 and 1.76, respectively. This indicates buying volume dominance, but also suggests that top traders may be leaning too bullish.