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.

HBAR, the native cryptocurrency of the Hedera Hashgraph network, has seen a meteoric rise of over 180% in the past week. It currently trades at $0.13, a price high last observed in April 2024. 

However, this rapid ascent has pushed the token’s price into overbought territory. This overextension suggests that a price correction may be imminent for the HBAR token.

Hedera Traders Overextends Its Price

Readings from HBAR’s Relative Strength Index (RSI) confirm that its market is overheated. As of this writing, the indicator stands at 92.35, its all-time high. 

The RSI measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a decline. In contrast, values under 30 indicate that the asset is oversold and may experience a rebound. 

HBAR’s RSI reading of 92.35 indicates that it is in extremely overbought territory. It suggests that HBAR buyers have significantly outpaced sellers, driving the price to an unsustainable level.  While the asset’s price can continue rising in the short term, such a high RSI often precedes a correction or pullback.

Further, HBAR’s price has breached the upper band of its Bollinger Bands indicator, also confirming that it is overbought among market participants. 

The Bollinger Bands indicator measures market volatility and identifies potential buy and sell signals. It consists of three main components: the middle band, the upper band, and the lower band. 

The middle band is a 20-period moving average that serves as a baseline for the price trend. The upper band is calculated as the middle band plus two standard deviations of the price, accounting for price volatility above the moving average. The lower band is the middle band minus two standard deviations of the price, representing volatility below the moving average.

When the price trades above the upper band, it often suggests that the asset is overbought, as it has moved significantly higher than its average price. This could indicate the possibility of a price pullback.

HBAR Price Prediction: A Pullback Is Imminent

Once buyers’ exhaustion sets in, HBAR’s price will experience a pullback. At its current value, it trades above support formed at $0.12. When buying pressure starts to fade, it will test this price level. Should it fail to hold, the token’s price may plummet toward $0.11.

However, if the uptrend continues, the HBAR token will reclaim its cycle peak of $0.15 and attempt to rally past it, invalidating the bearish projection above. A successful break above this level will set HBAR on the path to trading at its year-to-date high of $0.18.