The Grass price has surged 8% in the last 24 hours to trade at $0.8491 as of 12:25 a.m. EST on trading volume that pumped 125% to $209 million.
The jump in the GRASS price comes despite technical issues during the Grass network’s airdrop on Solana, which left many Phantom wallet users unable to access their tokens.
This airdrop, intended to reward early supporters with 10% of the total supply (100 million GRASS), was marred by operational setbacks, leading to criticism and casting doubt on the project’s preparedness.
This mishap, coupled with weak market performance and high selling pressure, led to disappointment and raised concerns about Grass’s readiness.
These challenges underscore the need for robust airdrop infrastructure, an issue seen in other recent launches like Hamster Kombat (HMSTR).
Grass Price Signals A Breakout Above The Symmetrical Triangle
The 15-minute chart for the GRASS/USD pair displays a symmetrical triangle pattern, suggesting that the price is consolidating and might soon experience a breakout. This pattern often indicates an impending move in the direction of the breakout, which could be either upward or downward.
In this case, the upward blue arrows suggest a potential bullish breakout if the price moves above the triangle’s upper trendline.
The price is currently at 0.8555, and the chart shows a parabolic curve that led up to the formation of the symmetrical triangle. This parabolic curve indicates strong bullish momentum, which could increase prices if a breakout occurs.
GRASSUSD Analysis Source: Dextools.io
The chart also includes two moving averages, providing insight into support levels. The 50-period moving average (blue line) is currently around 0.778, which is below the price and indicates short-term support. The 200-period moving average, while not visible within the immediate price range, would serve as a significant support or resistance level over a longer period if the price approaches it.
Grass Price Technicals Signal A Further Upside
Looking at the MACD (Moving Average Convergence Divergence), the MACD line (blue) is slightly above the signal line (orange) with a value near zero, hinting at mild bullish momentum. If the MACD line crosses above the zero line, this could confirm increased buying pressure and signal a stronger upward move.
The RSI (Relative Strength Index) currently sits at 56.81, comfortably below the overbought level of 70. This suggests that the bulls can drive the Grass price up before hitting overbought conditions, supporting the possibility of a bullish breakout.
Given the supportive moving averages, a favorable RSI, and the symmetrical triangle pattern, the setup indicates the potential for a bullish breakout. For confirmation, watch for an increase in trading volume alongside the MACD line moving further above the signal line. If a breakout occurs, the price could climb further, potentially targeting levels above $0.90.
Flockerz Presale Blasts Past $1.1 Million: The Next Crypto To Explode?
As the Grass price looks to keep its bullish momentum alive, meme coin rival Flockerz (FLOCK) has just blasted past $1.1 million in funds raised in its presale.
According to analyst and YouTuber Crypto Zeus, with over 79K subscribers, $FLOCK “could be huge.”
Flockerz aims to bring true decentralization to the meme coin world by incentivizing token holders to participate in its development.
Put simply, that means that investors in the project will be rewarded with FLOCK tokens simply for voting on its key decisions.
At the project’s core is Flocktopia, a decentralized autonomous organization, or DAO, where every holder’s opinion carries weight. Unlike traditional governance models that are often found in the chaotic meme coin space, Flockerz ensures collective decision-making via its vote-to-earn system.
In this way, Flockerz addresses the common challenge of voter apathy in meme coin oversight.
Token holders can also benefit from staking FLOCK tokens, with the annual yield currently standing at an eye-popping 1,499%.
$FLOCK tokens are priced at $0.0058862 each and can be bought with $ETH, $USDT, $BNB, or credit card. Buy before a price hike in about 48 hours to secure the best deal.
Buy FLOCK tokens on the official website here.
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