The recent rise in GRASS's price has been impressive. It jumped by 187.99% in just a week. This surge is largely due to the success of its airdrop and Bitcoin hitting new all-time highs. Plus, GRASS is set to be listed on Binance Futures, offering up to 75x leverage. These factors have created a strong wave of bullish momentum.

However, caution is warranted. The current Relative Strength Index (RSI) for GRASS is at 71.8. Just two days ago, it was at 55. This quick rise indicates strong buying pressure, pushing the RSI into overbought territory. Remember, GRASS’s RSI peaked around 85 days after its airdrop.

So, what does RSI mean? It’s a momentum indicator that measures how fast prices are moving. When the RSI is above 70, it usually means the asset is overbought. Conversely, values below 30 indicate it’s oversold. With GRASS at 71.8, it suggests that recent excitement might have pushed prices too high, too quickly.

Moreover, the total amount of staked GRASS has remained steady at 26,600,000 since November 6. This stability follows a slight dip from its earlier peak this month. It seems staking activity has settled into a consistent pattern, with many investors locking in their positions.

Monitoring the staked amount is important. It reflects investor confidence and commitment to holding the asset long-term. A higher staked amount often means investors are less likely to sell, which can stabilize the price. On November 4 and 5, the staked amount was close to 28 million but then declined and stabilized at a lower level. This indicates that while enthusiasm for staking was high, some participants likely took profits or withdrew, leading to a more stable base of long-term stakers.

Now, let’s look at the GRASS Ichimoku Cloud chart. It shows that the price is well above the cloud, indicating strong bullish momentum, especially within the Solana ecosystem. The first key support zone is around $2.9, where the cloud begins to thicken. If the price drops further, the lower edge of the cloud at about $2.5 will be the next significant support level. This could mean a potential price correction of about 28.5% as GRASS gains attention among newly launched Solana coins.

If Bitcoin keeps its strong momentum and the Binance listing generates buying pressure, GRASS could continue to rise. It might even break the $4 mark soon. Stay tuned!