【GRASS 1H】The narrative has changed, but the unlocks are still coming
$GRASS is up 28% today, with $105 million in futures trading volume, but I’m not chasing it: price is now too far from support.
The rally is being driven by an AI narrative: the CEO announced an “Abundant Intelligence” roadmap, shifting from DePIN to providing real-time web data for AI. According to KuCoin, the price had already doubled before the announcement, making the roadmap look more like a post-hoc explanation.
Three reasons:
① The 1H trend is rising, with both highs and lows moving higher;
② The trading volume of the last 10 candles is more than 6 times the previous average, indicating a high-volume surge;
③ 0.69–0.70 is a support zone where Fib 0.618 overlaps with the trendline.
My plan: I’d consider a small position only if price pulls back to 0.6882–0.7046 and shows signs of holding. Stop loss at 0.6718, first target at 0.9239. A break below 0.67 would mean the narrative isn’t holding up, and I’d admit I was wrong and exit.
The biggest risk is the unlock: around 25% of early investors’ tokens are set to be released in stages before the end of October. According to Tokenomics, the next unlock is on October 28.
Would you dare to buy the dip before the unlock?
Sources: KuCoin, CoinMarketCap
$GRASS #AI #BinanceFutures
#BinanceSquare
⚠️ The above is a compilation of information and personal opinion, and does not constitute investment advice. DYOR.
$GRASS is up 28% today, with $105 million in futures trading volume, but I’m not chasing it: price is now too far from support.
The rally is being driven by an AI narrative: the CEO announced an “Abundant Intelligence” roadmap, shifting from DePIN to providing real-time web data for AI. According to KuCoin, the price had already doubled before the announcement, making the roadmap look more like a post-hoc explanation.
Three reasons:
① The 1H trend is rising, with both highs and lows moving higher;
② The trading volume of the last 10 candles is more than 6 times the previous average, indicating a high-volume surge;
③ 0.69–0.70 is a support zone where Fib 0.618 overlaps with the trendline.
My plan: I’d consider a small position only if price pulls back to 0.6882–0.7046 and shows signs of holding. Stop loss at 0.6718, first target at 0.9239. A break below 0.67 would mean the narrative isn’t holding up, and I’d admit I was wrong and exit.
The biggest risk is the unlock: around 25% of early investors’ tokens are set to be released in stages before the end of October. According to Tokenomics, the next unlock is on October 28.
Would you dare to buy the dip before the unlock?
Sources: KuCoin, CoinMarketCap
$GRASS #AI #BinanceFutures
#BinanceSquare
⚠️ The above is a compilation of information and personal opinion, and does not constitute investment advice. DYOR.