$GRASS Price Fails to Break $2, Time to Buy Now?

Bittime - $GRASS Price Fails to Break $2, Time to Buy Now? GRASS token, one of the newest projects in the DePIN ecosystem, is attracting a lot of attention from analysts and public investors. 

Also read: GRASS Token Price Reaches $1 After Grass Airdrop!

What is Grass Network?

Grass Network as a Layer-2 platform built on the Solana blockchain, the Grass platform allows users to share unused internet bandwidth to train AI models through a browser extension. 

With such promising technology, it is no surprise that the token launch and airdrop on October 28th were highly anticipated.

Despite some hiccups with the airdrop, including a three-hour outage, the token price managed to skyrocket. 

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

Grass Price Movement 

On October 29, the token price peaked, then experienced a major rally from October 31 to November 2, passing the $1.50 level (Rp23,700).

After reaching a high of $1.9175 (Rp30,300) on November 2, the price of GRASS slowed down, settling below the $1.75 (Rp27,650) level, and is now trading at the $1.45 (Rp22,910) level. 

GRASS fails to break through $2, with analysts seeing potential for deeper declines—is this a good time to buy?

A Tough Start for GRASS

GRASS trading started on October 28, but some issues hampered the airdrop and token launch. 

The team faced technical issues, including users not being able to access their tokens in the Phantom wallet. 

In addition, the token claim process was disrupted by a three-hour power outage. 

Several transactions were also flagged as suspicious, and many users were disqualified from the airdrop.

Also read $GRASS Price Prediction in 2025: Potential to reach $20?

Grass Token Distribution

In total, 1 billion GRASS tokens were distributed, with 10% going to early supporters and contributors. 

It's too early to see the full impact these issues will have on GRASS, but price-wise, the token is off to a good start.

Grass Token Attempts to Break $2 (Rp31,600)

Understanding GRASS price action is quite challenging as it was just launched a few days ago. 

However, analysts see a bullish trend on lower time frames. The token showed above-average trading volume in the last 24 hours.

Additionally, on-balance volume and token price have increased since October 30. 

In short, there is buying pressure for this token, which indicates that a price increase may occur soon.

However, GRASS failed to break through $2 (Rp. 31,600), which is a short-term psychological resistance for this token. 

Analysts say the price could drop to $1.75 (Rp27,650) as the RSI shows bearish divergence.

Grass to IDR Bittime

Other Analysts See Deeper Decline for GRASS

Based on the technical charts, analysts found two important liquidity pools at prices of $1.56 (Rp24,600) and $1.96 (Rp30,900). 

The current price is closer to the liquidity pool at $1.56, with the token looking to reject the $1.96 level.

With bearish momentum and liquidity pool at $1.56 (Rp24,600), traders and token holders can anticipate a price drop below $1.75 (Rp27,650). 

Swing traders and new buyers looking to enter a position can wait for the token to retest the $1.56 (Rp24,600) or even $1.4 (Rp22,120) price level.

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Reference:

https://www.newsbtc.com/news/grass-token-fails-to-break-2-level-is-it-time-to-buy/