The price of The Graph (GRT) has experienced a significant increase, surpassing $0.35, as Artificial Intelligence (AI) tokens witness a notable uptrend following Nvidia's first-quarter financial outcomes. This surge is further propelled by the momentum gained from The Graph's Sunrise Upgrade Program. Consequently, bullish investors are setting their sights on the crucial psychological threshold of $1, anticipating a potential breakthrough above key resistance levels.

The AI token market is undergoing a substantial recovery, with The Graph (GRT) emerging as one of the tokens to turn positive in the recent week. This positive trend is linked to the rising values of Bitcoin and Ethereum, which have been maintaining higher price levels. The introduction of The Graph's Sunrise Upgrade Program, which includes 4 million GRT tokens allocated for participant rewards, has garnered a favorable response, contributing to an 18% price surge for the token over the past week. Within the last 24 hours, GRT has shown a 3% increase, showcasing its potential for further upward movement.

Nvidia's first-quarter financial report has generated significant anticipation, resulting in a surge in market sentiment surrounding the chipmaker's stock. Consequently, crypto tokens like Render and Akash Network have experienced substantial gains. Following the market's closure on Wednesday, Nvidia's stock price has risen by 7% in premarket trading on Thursday, indicating a growing trend of buying pressure for Bittensor (TAO), AIOZ Network (AIOZ), and The Graph (GRT).

Currently, The Graph token is trading at $0.3519, with a 24-hour trading range of $0.3311 to $0.3558, as reported by CoinGecko. Over the past week, GRT has fluctuated between $0.2969 and $0.3542. Historical price data shows that the token reached lows of $0.21 in mid-April and encountered difficulties in surpassing $0.32 on multiple occasions this month. However, the current price is above both the 20-day and 50-day exponential moving averages, providing strong support above the horizontal line.

The Relative Strength Index (RSI) on the daily chart is on the rise, indicating buying pressure for GRT without entering the overbought region. This trend is corroborated by the Moving Average Convergence Divergence (MACD). If bullish investors successfully breach the resistance zone at $0.35, they may target $0.5 and $0.7, with the primary short-term goal set at the psychological milestone of $1.

The potential approval of the first spot Ether ETF in the United States by the SEC could trigger exponential gains for GRT. Consequently, investors are closely monitoring critical levels, including the current support at $0.3 and $0.21. With the ongoing momentum in AI tokens and the Sunrise Upgrade Program, The Graph (GRT) is positioned for a promising bullish trajectory, presenting an appealing opportunity for investors looking to capitalize on the increasing demand for AI tokens and cryptocurrencies.