GRASS price has shown remarkable activity since its listing on major exchanges at the end of October. In its first week, the price skyrocketed from $0.65 to $1.60. However, recent metrics show GRASS entering a neutral zone, with its RSI at 51 and ADX at 14.84, indicating moderate recovery and weak trend strength.

As traders watch key resistance and support levels, the potential for a 44% surge or a 26% correction depends heavily on the strength of its ongoing uptrend.

GRASS Is Currently In The Neutral Zone

The Relative Strength Index (RSI) for GRASS has climbed to 51, up from a low of approximately 35. This shift indicates a recovery in momentum, moving from oversold territory toward a more balanced state. RSI, a key momentum indicator, measures the strength and speed of price movements, providing insight into whether an asset is overbought or oversold.

Values below 30 typically signal oversold conditions, while readings above 70 suggest overbought levels. At 51, GRASS’s RSI reflects neutral momentum, implying neither strong buying nor selling pressure currently dominates.

Despite being down nearly 15% over the past seven days, GRASS price has surged almost 10% in the last 24 hours. The RSI’s movement to 51 aligns with this short-term rebound, suggesting a shift toward stabilization after recent declines.

With RSI in the neutral zone, GRASS may be poised for consolidation or moderate gains, though a break above 70 could signal stronger upward momentum for one of the biggest airdrops of 2024.

GRASS Current Trend Isn’t That Strong

The Directional Movement Index (DMI) for GRASS reveals an ADX value of 14.84, suggesting a weak market trend. The Average Directional Index (ADX) measures the strength of a trend without indicating its direction. Typically, values above 25 signal a strong trend, while values below 20 indicate a lack of clear trend momentum.

At 14.84, the ADX suggests that GRASS is experiencing a period of low trend strength, which means that price movements are less likely to follow a sustained direction.

The DMI also includes the +DI (Directional Indicator) and -DI, which provide insights into the direction of the price trend. GRASS’s +DI is at 21.26, indicating slightly stronger bullish pressure, while the -DI is at 17.89, reflecting weaker bearish momentum.

However, with the ADX below 20, neither the bullish nor bearish pressure is strong enough to establish a clear trend. This setup suggests a choppy market where price movements may continue without a decisive upward or downward trajectory unless the ADX rises significantly.

GRASS Price Prediction: A 44% Surge?

GRASS’s current price is moving above its short-term EMA lines, indicating growing bullish momentum in the short term. Exponential Moving Averages (EMAs) smooth out price data and highlight trends, with shorter-term EMAs responding quickly to price changes.

This movement suggests that buyers are gaining control, and the asset’s immediate trend is turning positive. If this momentum continues, GRASS price could test key resistance levels, providing a clearer signal of sustained upward movement.

If the uptrend strengthens, GRASS could face its next resistance at $2.91. Breaking through this level could trigger further bullish activity, potentially driving the price to $3.66, representing a significant 44% upside. Conversely, if the uptrend weakens, the price may reverse, testing support at $2.41.

Failure to hold this level could lead to a deeper correction, with GRASS price potentially dropping to $1.87, marking a 26% downside. These levels highlight the importance of trend strength in determining the next significant price movement.

Altcoin season may be on the horizon as key narratives gain momentum in the crypto space. AI tokens and meme coins are capturing the spotlight, driving 50.4% of the narrative mindshare and signaling a shift in investor focus.

This trend is complemented by the rising market cap of altcoins, now at $837 billion, its highest level since early 2022. With altcoins still 35% below their peak, the stage is set for significant growth as capital flows away from BTC and ETH into emerging opportunities.

Memes and AI Leading the Narrative Mindshare

The emergence of strong narratives often signals the start of an altseason. When distinct themes gain traction, they drive attention and capital away from major players like BTC and ETH.

Currently, AI and meme coins are leading the way, capturing 50.4% of the narrative mindshare in the crypto space. This reflects a growing shift in focus toward these themes, setting the stage for broader altcoin season momentum.

AI coins lead with 27.76% of the narrative share, while memes trail at 22.64%, highlighting rising user interest in specific categories. As both narratives gain traction, capital is likely to move into altcoins. This could reduce BTC and ETH dominance, benefiting the overall altcoin market.

Altseason Could Spark a 35% Growth

The current market cap of crypto, excluding BTC and ETH, has reached $837 billion. This is the highest value since early 2022, reflecting a resurgence in interest for altcoins.

Despite this growth, the figure remains significantly below its peak of $1.13 trillion in November 2021, highlighting room for further recovery.

At 35% below its all-time high, the altcoin market still appears undervalued compared to the broader crypto space. This gap suggests the potential for a significant surge as investors rotate capital from BTC and ETH into alternative coins.

With rising interest in new opportunities, altcoins could see substantial growth in the coming weeks, sparking a new altseason for this cycle.

The Ethereum address attributed to Vitalik Buterin has moved 32 ETH to Base and minted 400 Patron NFTs. These NFTs are part of the Truemarkets Fair launch, where over 40% of the TRUE token supply will be allocated to Patron holders during the upcoming token generation event (TGE). 

Infinex, a decentralized trading platform from Synthetix, previously raised $65.3 million through the sale of Patron NFTs. 

Does Vitalik Buterin’s Alleged Transaction Signal an NFT Comeback?

The transaction from the ‘vitalik.eth’ address has fueled optimism within the community about a potential NFT comeback in the current bull market. The broader crypto market has shown a strong upward trend, leading some to hope for a revival of the 2021 NFT boom. 

During that time, NFTs like Bored Ape Yacht Club (BAYC) fetched millions. Recent price surges suggest renewed interest, with BAYC floor prices more than doubling in weeks. 

Similarly, the cheapest CryptoPunks now trade for around $112,000, with the collection’s total market value exceeding $1.6 billion. Rare pieces from these collections continue to command significantly higher prices.

Despite these signs of revival, the NFT market has struggled throughout 2024. Data shows that 98% of NFT collections saw minimal trading activity, reflecting a saturated market. 

Only 0.2% of NFT drops were profitable, with most losing over half their value within days, signaling a challenging environment for investors.

Meanwhile, Base, Coinbase’s Ethereum layer-2 network, surpassed 1 billion transactions within a year. However, its commemorative NFT sparked controversy for allegedly copying digital artist Chris Biron’s work. 

In response, Base apologized, committed the NFT proceeds to Biron, and pledged to improve its vetting process.

Also, earlier this month, blockchain investigator ZachXBT’s NFT project inadvertently created a $15 million meme coin due to Zora protocol’s auto-generated ERC-20 feature. Although intended as an archival project, it has since become the subject of speculative trading.