$GRASS I will analyze the GRASS/USDT chart and provide insights:
1. Overview Analysis:
- Current price: $2.41 (-9.96%)
- 24h trading volume: 32.78M USDT
- Price is in a strong downtrend from the peak of $3.8994
2. Technical Analysis:
Indicators:
- RSI(14) = 42.52 indicates a pessimistic sentiment but not oversold yet
- MACD is negative and showing weak signals
- MA20 (2.5205) < MA50 (2.6156) < MA100 (2.8586) - confirms downtrend
- Bollinger Bands are expanding downwards
3. Key Levels:
- Strong resistance: $3.8994 (highest peak)
- Near resistance: $2.6365 (BB Upper)
- Near support: $2.3657 (24h low)
- Strong support: $2.0358 (previous low)
4. Trend Analysis:
- Short-term (4h-24h): Strong downtrend
- Mid-term: Downtrend with lower highs and lower lows
- OBV is decreasing significantly indicating large selling pressure
5. Trading Scenarios:
Scenario 1 (70% probability):
- Price continues to drop testing the range of $2.20-2.25
- May have a slight recovery to $2.50 before continuing to drop
Scenario 2 (30% probability):
- Price finds a bottom at the current range
- Recovery to test MA20 ($2.52)
6. Trading Recommendations:
Cautious Strategy:
- Avoid buying at the current price range
- Wait for the price to find a bottom and show clear reversal signs
- If you want to trade:
+ Entry: $2.20-2.25
+ Stop loss: < $2.15
+ Take profit: $2.40-2.45
+ R/R Ratio: 1:1.5
Note:
- The downtrend is still strong, caution is required
- Trading volume is gradually decreasing
- Avoid FOMO when the market is weak
- Manage risk closely if trading
- Follow news and general market developments