Close Menu
Cryprovideos
    What's Hot

    ARKB Bitcoin ETF To Break up Inventory To Increase Retail Investor Attraction

    June 3, 2025

    USD1 Transactions Surge 10x, However Provide Stays Extremely Concentrated

    June 3, 2025

    Trump Media Information for Reality Social Bitcoin ETF Launch – BlockNews

    June 3, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Markets»GRASS 24% Worth Decline Might Open Doorways to Prolonged Downtrend: Right here’s Why
    GRASS 24% Worth Decline Might Open Doorways to Prolonged Downtrend: Right here’s Why
    Markets

    GRASS 24% Worth Decline Might Open Doorways to Prolonged Downtrend: Right here’s Why

    By Victor OlanrewajuNovember 3, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Within the early hours of November 2, Grass (GRASS) crypto worth appeared on observe to succeed in the $2 mark. Nonetheless, a 23.34% drop over the previous 24 hours has halted its spectacular week-long rally, pulling the value right down to $1.35. 

    This evaluation means that GRASS’ crypto worth might fall even farther from this stage. Right here’s why.

    Grass Bears Take Bulls Out of the Manner

    Grass, a layer-2 Decentralized Bodily Infrastructure Networks (DePIN) venture on Solana, launched its native token on October 28. Inside just some days, the altcoin’s worth surged by 100%, even with tokens distributed to customers by way of its airdrop. 

    Nonetheless, that spectacular improve has now dwindled to 67% over the previous week. Analyzing the day by day chart, we see that the Bull Bear Energy (BBP) has fallen into destructive territory. The BBP measures the energy of patrons (bulls) relative to sellers (bears).

    When the BBP is within the inexperienced, it signifies bullish dominance, typically main to cost will increase. On this occasion, the decline in GRASS’s crypto worth coincides with a big drop within the BBP studying, suggesting that bears are at present in management.

    Learn extra: What Is DePIN (Decentralized Bodily Infrastructure Networks)?

    Grass bears in control
    Grass Bull Bear Energy. Supply: TradingView

    Just like the BBP, the Accumulation/Distribution (A/D) line reinforces the bias that bears may proceed to tug the Grass crypto worth down. 

    The A/D assesses an asset’s provide and demand by analyzing the place the value closes inside a given interval’s vary after which multiplying that closing place by the quantity. 

    When the indicator’s studying rises, the demand will increase. However on this case, the indicator’s score has decreased to the destructive area, suggesting that distribution outweighs accumulation, and subsequently, the GRASS worth might proceed to go down.

    GRASS faces selling pressure
    Grass Accumulation/Distribution. Supply: TradingView

    GRASS Worth Prediction: Additional Lower Forward

    An extra have a look at the 1-hour chart exhibits that GRASS crypto worth has fashioned a double-top sample. A double high is a chart sample signaling a possible development reversal. It’s recognized by two peaks of comparable top, separated by a average trough between them.

    When this sample seems, it implies that a cryptocurrency has reached its native high. This seems to be the case with the GRASS worth. Contemplating this outlook, there’s a excessive probability that the token may decline to $1.08.

    Learn extra: 10 Finest Altcoin Exchanges In 2024

    Grass crypto price analysis
    Grass 1-Hour Evaluation. Supply: TradingView

    Nonetheless, if bulls can defend the assist at $1.29, this prediction may be invalidated. In that state of affairs, GRASS may rebound to $1.63.

    Disclaimer

    In step with the Belief Mission tips, this worth evaluation article is for informational functions solely and shouldn’t be thought-about monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market situations are topic to alter with out discover. At all times conduct your personal analysis and seek the advice of with an expert earlier than making any monetary choices. Please observe that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    USD1 Transactions Surge 10x, However Provide Stays Extremely Concentrated

    June 3, 2025

    Pepe Worth Prediction: Is PEPE About to Lose 60% of Its Worth? – CryptoDnes EN

    June 3, 2025

    Stablecoin Issuer Circle Focusing on $7,200,000,000 Valuation in Upcoming IPO – The Every day Hodl

    June 3, 2025

    Brad Garlinghouse denies Ripple's reported $5 billion bid to accumulate Circle

    June 3, 2025
    Latest Posts

    ARKB Bitcoin ETF To Break up Inventory To Increase Retail Investor Attraction

    June 3, 2025

    Trump Media Information for Reality Social Bitcoin ETF Launch – BlockNews

    June 3, 2025

    Adam Again Invests SEK 21 Million To H100 Group Bitcoin Treasury Technique

    June 3, 2025

    CleanSpark ramps up Bitcoin mining by 9% in Might, boosts hash price, energy capability

    June 3, 2025

    Technique To Elevate $250M Through STRD Providing To Purchase Extra Bitcoin

    June 3, 2025

    Finest Crypto to Purchase Now as Russia’s Banking Titan Unveils Bitcoin Bonds – CryptoDnes EN

    June 3, 2025

    Ethereum's Buterin Acknowledges Key Bitcoin Benefit

    June 3, 2025

    How Technique (MSTR) Constructed Their Capital Stack To Speed up Bitcoin Accumulation

    June 3, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Binance Set to Delist 4 Altcoins: What You Must Know

    February 17, 2025

    Finest Crypto To Purchase Now: 5 Prime Picks As US CPI Inflation Fee Overshoots

    February 14, 2025

    The Subsequent Crypto Wave: How you can Earn $200 Each day with Sensible Buying and selling Methods

    February 9, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.