- The GRASS token surged 28.46% this week, signaling robust bullish momentum forward.
- Key assist at $0.87 and resistance at $1.05 information potential value actions.
- Regardless of the drop in quantity, open curiosity jumped 57.85%, indicating merchants' engagement.
The GRASS token has attracted the eye of traders with a powerful rise of 28.46% this week. The value rose from round $0.87 to $1.05, demonstrating important bullish momentum.
Within the final day alone, the token surged 21.35%, indicating robust market curiosity. As traders analyze present value developments, many are questioning if this rise can proceed within the coming days.
The present assist stage for GRASS is round $0.87. This level was a latest low earlier than the token's upward trajectory started. If the worth falls, this stage will present a key barrier for patrons to re-enter the market.
Moreover, a notable resistance stage shaped at round $1.05. Right here, the worth motion seems to be slowing, suggesting that sellers could also be stepping in. A break above this resistance might result in additional bullish momentum for the token.
If GRASS convincingly breaks above the $1.05 mark, the subsequent goal will probably be $1.10. This stage is essential as a result of it corresponds to psychological buying and selling thresholds. Nonetheless, if the token falls, the $0.95 stage might present robust assist, sustaining the continued uptrend.
Evaluation of derived knowledge
In keeping with Coinglass knowledge, regardless of the spectacular value rise, the derivatives market confirmed combined alerts. Whole buying and selling quantity fell 24.01% to $301.79 million.
Nonetheless, this decline occurred alongside a notable improve in open curiosity, which soared 57.85% to $43.32 million. This improve means that merchants have gotten extra engaged and betting on future value actions.
When it comes to lengthy/brief ratios, Binance's GRASS/USDT accounts have a ratio of 1.0247. In the meantime, OKX’s GRASS ratio is 0.6. Analyzing liquidations reveals attention-grabbing developments over completely different time intervals. Over 24 hours, liquidations totaled $839.76K. Of this quantity, $306.55k got here from lengthy positions, whereas $533.21k got here from brief positions.
Associated: Why Excessive Preliminary Token Circulation is the Way forward for Tokenomics
Associated: Crypto Roundup: Memecoin Mania, Ethereum Accumulation, Bitcoin Rise
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