Is It Too Late To Buy GRASS? Grass Price Soars 40% And This Might Be The Next Crypto To Explode

The Grass Price Surge Continues

In the past 24 hours, the Grass price has witnessed a remarkable 40% surge, reaching $1.5607 as of 11:23 p.m. EST. Trading volume has also increased significantly by 31% to $298 million, as per CoinGecko.

Bullish Momentum for Grass

Technical analysis of the GRASS/USDT pair on the 1-hour timeframe reveals a continuous rally since its launch, despite a brief dip to the $0.78 support level. This support has provided a foundation for a rising channel pattern, with crucial support zones within the channel at $0.98 and $1.08.

The Grass price is currently poised for a bullish continuation, with GRASS exceeding the channel's upper boundary. The price is now trading above the 50-day Simple Moving Average (SMA) of $1.1522, acting as immediate support, indicating further potential for growth.

Furthermore, the Relative Strength Index (RSI) is approaching the overbought region (70), currently at 80, suggesting strong buying pressure from the bulls. The Moving Average Convergence Divergence (MACD) also supports the bullish sentiment, as the MACD line crosses above the signal line, representing a bullish crossover.

If the bullish momentum continues, the Grass price could rise further, with targets above $2.0 for the bulls.

Cautionary Note

However, it's important to note that the RSI indicates overextended conditions, suggesting the asset may be overvalued. A potential correction to the next support level at $1.152, corresponding to the 50-day SMA, could occur.

Alternative Investment Option

While Grass continues to surge, investors seeking alternatives may consider Crypto All-Stars (STARS), an innovative new ICO that has secured funding of over $2.95 million.

According to ClayBro, a renowned crypto analyst on YouTube with a significant following, $STARS has the potential to increase tenfold post-launch.