GRASS price has dropped by around 15% in the past 24 hours after hitting an all-time high just two days ago, indicating a sharp shift in momentum. Despite this correction, GRASS remains among the top 20 coins on Solana, with a market cap of just over $700 million.
Technical indicators, including the RSI and Ichimoku Cloud, are pointing to increasingly bearish signals as selling pressure builds and key support levels come into focus. However, if GRASS can stabilize and regain upward momentum, it has the potential to challenge nearby resistance areas and re-attempt its upward trajectory.
GRASS RSI changed rapidly within 2 days
GRASS The Relative Strength Index (RSI) has fallen sharply to 36.6, down from nearly 70 just two days ago when the asset hit an all-time high. This sharp decline reflects a significant shift in momentum, suggesting that buying pressure has weakened significantly since its recent peak.
An RSI value of 36.6 places GRASS closer to the oversold zone, indicating that selling activity has been dominant. While this does not necessarily mean an immediate reversal, it highlights the growing bearish sentiment and the potential for additional price corrections in the short-term as investors move their portfolios to other DePINs.
The Relative Strength Index (RSI) is a technical indicator used to measure the speed and magnitude of price movements, indicating whether an asset is overbought or oversold. RSI values โโrange from 0 to 100, with readings above 70 indicating overbought conditions and increased chances of a pullback, while values โโbelow 30 indicate oversold conditions, often preceding a recovery.
With the GRASS RSI now at 36.6, the asset is approaching oversold levels, which could mean that selling pressure could ease soon. If buyers return to the market, GRASS could stabilize or see a short-term bounce; however, failure to regain momentum could see the downside move continue, testing key support levels.
GRASS's Ichimoku Cloud Shows Important Bearish Signal
GRASS Price Prediction: Is the Correction Over?
GRASS price is under further downward pressure, with the next major support area at $2.41, which could extend the downtrend.
On the other hand, GRASS price still has a chance to reverse this downward trend if it manages to regain the bullish momentum and break the $3.08 resistance. A successful break of this level could restore buyersโ confidence, allowing the price to rise towards $3.52.
If GRASS manages to overcome this resistance as well, the next target lies at $3.84, indicating a possible continuation of the previous uptrend. This scenario requires strong buying pressure to negate the current bearish signals and re-establish the bullish momentum.