Grass Crypto Gains 160% in 7 Days, Sets New ATH: What Comes Next?

• Grass crypto shot previous $3 due to excessive buying and selling quantity.
• It could take a day or two for additional positive aspects to materialize as anticipated.

Grass [GRASS] crypto has reached a brand new excessive and continues its value discovery part. Every day buying and selling quantity elevated by 21.6% over the previous 24 hours to a powerful $601 million.

Technical evaluation confirmed that the token may see a pullback and fall under the $3 mark. Such a dip would seemingly be a shopping for alternative because the market construction is bearish. A retracement under $2.5 could possibly be the primary signal of a chronic correction.

Bearish divergence signifies an overloaded market

Supply: GRASS/USDT on TradingView

Since November 5, buying and selling quantity has been on an upward pattern. The OBV additionally rose steadily, exhibiting that purchasing strain was excessive and GRASS positive aspects have been pushed by actual demand.

The RSI on the 4-hour chart has been above the impartial 50 for the previous three days, exhibiting that momentum has been strongly bullish however has shaped a bearish divergence for the previous two days.

The RSI shaped decrease highs whereas the value moved increased to succeed in increased highs. This divergence doesn’t assure a pattern reversal. As an alternative, it is a signal that the market is prone to expertise a small pullback.

The previous resistance zone of $2.7-$2.85 is predicted to function assist within the occasion of a pullback within the coming days.

Potential 14% pullback for Grass crypto

Supply: Mint glass

One other indication that the $2.7 space is a requirement zone got here from the short-term liquidation heatmap. On the earlier excessive at $3.03, a big quantity of liquidity accrued simply above that over the previous 24 hours.

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Consequently, the GRASS value turned magnetized to it and crossed this zone. It’s attainable that the token will publish extra positive aspects.

Nonetheless, as a result of momentum divergence on the H4 chart, a pullback to the closest liquidity pool of $2.7 can also be attainable.

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