Latest GRASS Token Price Analysis and Prediction

Bittime - Carrying innovative ideas, the presence of the GRASS token is one of the crypto projects that has succeeded in arousing market interest.

Since the start of listing on October 28 2024, the GRASS token price has been observed to increase exponentially.

However, in the last seven days, the price of the visible token GRASS experienced a quite sharp decline.

So what is the latest GRASS token price analysis and prediction?

GRASS Token Price Conditions in the Last Week

Processed from GRASS token price movement data over the past week on CoinMarketCap, it can be seen that the token experienced a significant decline. 

Initially, the price was around $3.29, but a downward trend started to form over time. 

The decline continued gradually, with price fluctuations indicating a brief recovery attempt, but remained on a downward trend.

The biggest decline was seen at the end of the period, as the GRASS token price touched $2.43, marking a decline of 26.26% in the last 7 days. 

This was also accompanied by a decrease in market capitalization of 13.83%, down to $592.42 million, and 24-hour transaction volume recorded at $222.54 million, a decrease of 5.19%.

Read Also: How to Claim Airdrop Grass, Get 100 Million GRASS Tokens!

In the last week, the GRASS token has been under strong selling pressure, with bearish market sentiment. 

This pressure is reflected in downward price movements and declining other market indicators, such as market capitalization and trading volume.

GRASS Token Price Technical Analysis

Condition GRASS price in the last week, which was quite disappointing, turns out to also be in line with the technical analysis data processed by the CCN site on November 14, 2024.

Quoted from the CCN website, the 4-hour graph of the GRASS token price shows a clear Elliott Wave movement pattern, followed by a correction phase.

Initially, the price rose in a five-wave pattern, with the fifth wave peaking below $4, signaling that the upward movement was complete and the correction phase began.

After reaching the peak, GRASS price entered into a correction phase, which formed an ABC pattern.

Waves A and B are visible, and the price is currently declining, possibly forming wave C to complete the correction phase.

If wave C follows the general pattern of a correction, the price may fall to one of the key Fibonacci levels, namely around $2.15 or $1.90, corresponding to the 1.0 and 1.272 Fibonacci extensions.

Read Also: Selling & Trading GRASS/IDR

The chart also shows key Fibonacci retracement levels as potential support and resistance points.

The 0.5 Fibonacci levels of $2.87 and 0.618 of $2.76 are close to the current price, which serves as immediate support.

If the price cannot sustain this level, it is likely to drop to the 0.786 Fibonacci level of $2.51, then to $2.28 (0.5 retracement of the larger structure).

Latest GRASS Token Price Prediction

After reviewing the current price conditions and analysis of the GRASS token, it's time to review the GRASS token price prediction.

However, please remember that the information presented in this article is only a prediction intended for education, not an invitation to purchase any crypto assets, including GRASS.

Please do in-depth independent research before investing in crypto assets.

Source: ccn.com

Based on the chart above, GRASS price movements show the continuation of a corrective pattern that has the potential to complete a deeper Elliott Wave wave structure.

The chart indicates the development of the ABC corrective phase, with wave (v) appearing as the final segment of wave C. 

Read Also: GRASS Token Price Prediction and 30 Day Performance Analysis

This phase signals the potential for further price decline in the short term to reach the end point of the correction before a trend reversal opportunity arises.

The Fibonacci levels identified on the chart are important references as potential support zones, especially around the $2.28 to $1.90 levels, which correspond to the 1.0 and 1.272 Fibonacci extensions. 

GRASS Token Price in the Next Month

GRASS price is expected to test this area in the near term, with a possible bounce if the corrective structure completes at this level.

In the scenario where the price manages to maintain and bounce off the current support level, a trend reversal to the upside is possible, indicating the start of a new upward phase. 

However, if this support is broken, a deeper price decline towards lower Fibonacci levels is possible.

In the next one month period, GRASS price movement depends on the response around key support areas and confirmation of a reversal pattern to validate a potential post-correction bullish trend.

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