GRAM surged to 1.215 at 6:20 this evening, hitting the 1.196 target I mentioned this morning. It has now pulled back to 1.18u.
In this morning’s post, I said I was bullish but wouldn’t chase it, and that I’d consider getting in if it pulled back to around 1.10. But its low today was only 1.12—it never came close to 1.10 and went straight up. The target was hit, but it never gave us an entry. That distinction needs to be clear.
The rally came with volume: trading volume climbed from $110 million this afternoon to over $130 million. BTC spent the whole day hovering around 74,000, while GRAM made a move on its own. That suggests people are still buying into the Telegram story.
The problem now is that it broke above 1.196 and then fell back below it. It didn’t hold.
Next, watch 1.196. If it gets back above that level, it could test 1.215 and then move higher. On a pullback, the first level to watch is today’s low of 1.12. If it holds, the bullish outlook stays intact. If it falls back below 1, this whole bounce will have been for nothing.
There’s another batch of tokens unlocking on the 22nd, less than two weeks from now. I’ll remind you all when the time comes. #GRAM $GRAM
In this morning’s post, I said I was bullish but wouldn’t chase it, and that I’d consider getting in if it pulled back to around 1.10. But its low today was only 1.12—it never came close to 1.10 and went straight up. The target was hit, but it never gave us an entry. That distinction needs to be clear.
The rally came with volume: trading volume climbed from $110 million this afternoon to over $130 million. BTC spent the whole day hovering around 74,000, while GRAM made a move on its own. That suggests people are still buying into the Telegram story.
The problem now is that it broke above 1.196 and then fell back below it. It didn’t hold.
Next, watch 1.196. If it gets back above that level, it could test 1.215 and then move higher. On a pullback, the first level to watch is today’s low of 1.12. If it holds, the bullish outlook stays intact. If it falls back below 1, this whole bounce will have been for nothing.
There’s another batch of tokens unlocking on the 22nd, less than two weeks from now. I’ll remind you all when the time comes. #GRAM $GRAM
