$GRVT is currently trading at 0.2223. On the 15m chart, it has shifted from a sharp sell-off to “ultra-low volatility”📉: the average range of the last 10 candles is only 0.61%, with a maximum of 1.36%. Overall trading volume has contracted, suggesting that selling pressure has eased after the sharp drop, but buying is also very weak, and bears haven’t fully left the market.
Breaking down the reasons for the plunge🧵:
1️⃣ Selling pressure from token holders: continued selling after airdrop tokens/early allocations unlocked;
2️⃣ Very thin liquidity: even small orders can push the price down, while market makers pulling their orders magnifies the decline;
3️⃣ Pressure from the broader market:
$BTC is choppy and leaning weak, risk appetite for altcoins is declining, and
$GRVT lacks fresh buying support.
Short-term strategy⚡️:
Avoid blindly chasing shorts at the moment. If the 15m chart breaks below 0.218 on rising volume, consider a small short position, targeting 0.205–0.198, with a stop-loss at 0.226.
If price wicks below 0.218–0.220 and recovers, then holds above 0.225 on rising volume, consider a small long position for a bounce, targeting 0.238–0.245, with a stop-loss at 0.216.
A volatility breakout can follow a low-volatility period. Manage position size strictly and beware of false breakouts🚨
#GRVT #Crypto