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The Grass price has plunged 17% in the last 24 hours to trade at $0.8184 as of 7:40 a.m. EST on a 27% drop in trading volume to $213 million.
Grass Price Major Support Signals A Potential Rebound
The GRASS/USD chart on a 30-minute timeframe indicates potential bullish and bearish signals that traders should consider. The current price stands at $0.8196, hovering just above a critical support level at around $0.80.
This support has been tested twice, forming a double bottom pattern, which often signals a possible bullish reversal if the price can break above nearby resistance. However, the short-term momentum remains bearish, as the 50 Simple Moving Average (SMA) trends downward and sits above the current price, near $0.90. This level may act as the first significant resistance if a rebound occurs.
GRASSUSD Analysis Source: Dextools.io
The Moving Average Convergence Divergence (MACD) indicator also reflects a bearish sentiment, with the MACD line below the signal line and both lines in negative territory. However, the histogram shows diminishing red bars, suggesting that bearish pressure may be weakening.
Meanwhile, the Relative Strength Index (RSI) trades at 34.19, nearing the oversold threshold of 30. This closeness to oversold conditions could indicate a potential rebound if buyers step in at the support level.
If a rebound does occur, the first target to watch would be around the 50 SMA at approximately $0.90, with further upward potential toward $0.9667, the next major resistance level.
Conversely, if the price breaks below the $0.80 support, this could open the door to further downside movement. While the setup currently shows bearish momentum, the double bottom, along with the RSI’s oversold signal, suggests a potential reversal, warranting close attention to any bullish signals from the MACD or RSI.
Pepe Unchained Storms Toward $25 Million: Next Crypto To Explode?
Investors are flocking to buy the new Layer 2 meme coin Pepe Unchained ($PEPU), which has just surged past $23.5 million in funds raised in its presale, one of the biggest of the year.
According to the Bitcoin & Altcoins Price Analysis YouTube channel, PEPU could deliver 1000x gains after it launches.
PEPU comes with its own Layer 2 blockchain in order to free the OG PEPE from Ethereum’s slower, more costly network. PEPU’s new blockchain promises transactions up to 100 times faster than Ethereum, with much lower gas fees.
Because it’s fully compatible with Ethereum’s apps, PEPU users can still enjoy the benefits of Ethereum’s ecosystem but with greater speed.
PEPU’s blockchain isn’t just for itself. It is open to other meme coins, creating a scalable platform that could take the fun side of crypto to a whole new level.
It's just…so beautiful.😢
Pepe Unchained, the golden child of the meme coin world. pic.twitter.com/bwd4d7LRu7
— Pepe Unchained (@pepe_unchained) October 30, 2024
In addition, there’s also a developer grant program called “Frens with Benefits” to attract developers who want to build on the Pepe Chain.
Moreover, PEPU holders have the option to stake tokens and earn a huge 100% annual return.
Right now, PEPU is priced at $0.01189 and can be bought using ETH, USDT, BNB, or even a bank card. The price will increase in less than 14 hours, so interested investors should buy soon for the best deal.
Buy PEPU tokens on the official website here.
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