The Graph crypto surges 15% – Why GRT’s rally could face a reversal

The Graph [GRT] surged 15% to set a new local high on the chart, at press time. The surge shows strong momentum backing the asset, especially as its volume was up 180% to over $37 million in the past day.

However, the data suggests there is another key warning that needs to be considered. Short positions, or sellers, are not just sitting on the sidelines. They are gradually betting on a decline.

Binance top traders impact the market

There is clear evidence suggesting that top traders on Binance, based on account and position size, are leaning very bullish.

This is based on the Long/Short Ratio, which tracks the accounts and positions of Binance traders in the market, showing readings of 1.84 and 1.76, respectively.

The Long/Short Ratio measures whether buyers or sellers are dominating the market based on whether its reading is above or below 1. A reading above 1 indicates buying volume dominance, while a reading below 1 suggests sellers are taking charge.

The farther the ratio moves from 1, the stronger the buying or selling pressure in the market. At the time of writing, the data reflected a clear bullish bias.

Across multiple exchanges where GRT is trading, volume performance has also been overall bullish. CoinGlass reported that the Long/Short Ratio across these venues reached roughly 1.008, indicating growing long dominance.