GRASS Price Prediction – Rejection at $2, but Is the Dip Good Enough to Buy?

• Technical points soured the thrill behind the GRASS launch
• A rejection as little as $2 may imply a pointy pullback

GRASS began buying and selling on October 28, however many points hampered buying and selling token’s air drop. Throughout the long-awaited occasion, technical issues arose, issues that prevented it from occurring Phantom wallet users can’t entry their tokens.

The push to assert GRASS tokens prompted a three-hour outage on Phantom. Some customers additionally noticed transactions marked as unsafe. Customers had been critical online after they had been deemed ineligible for the airdrop although they’d practiced agriculture.

Of the entire 1 billion GRASS provide, 10% was allotted to contributors and early backers, however this was marred by problems. Will these setbacks dampen the bullishness behind the token, or will the challenge show that it’s prepared for the market?

GRASS good points 132% from current lows

Supply: GRASS/USDT on TradingView

For the reason that token has solely been buying and selling for just a few days, worth motion knowledge is proscribed. And but the bullish intent was clear on the decrease futures. The token has seen above-average buying and selling quantity over the previous 24 hours.

The OBV has been steadily transferring larger since October 30 together with the worth. This highlighted the shopping for strain behind GRASS and implied that there may probably be extra good points quickly.

The token met resistance on the psychological spherical resistance of $2. A decline to $1.75 could possibly be attainable, particularly because the RSI shaped a bearish divergence.

Probability of a deeper relapse

Supply: Mint glass

There have been two principal liquidity swimming pools across the worth of $1.96 and $1.56. The previous gave the impression to be nearer to press time worth, whereas the latter was a stronger magnetic zone.

Sensible or not, right here is the market cap of GRASS when it comes to BTC

The bearish momentum divergence and the $1.56 liquidity pool meant a drop beneath $1.75 could be attainable. Merchants needs to be ready for this chance.

A retest of $1.56 and $1.4 may present a shopping for alternative for swing merchants.

Disclaimer: The data offered doesn’t represent monetary recommendation, funding recommendation, buying and selling recommendation or another type of recommendation and is solely the opinion of the author