Grass [GRASS] rallied 11.59% over the last 24 hours at press time and climbed toward the $0.57 region after buyers aggressively pushed the price above recent consolidation levels.
However, the trading volume declined 9.89% to $47.42 million during the same period. The divergence suggested spot participation had not fully supported the latest breakout attempt despite the sharp recovery.
Price increases are typically associated with increased market activity, but GRASS followed a different pattern during this move. Buyers still forced prices higher, although reduced volume hinted that aggressive speculative positioning had driven most of the rally.
As a result, the latest surge appeared vulnerable to volatility if fresh participation failed to return near the current resistance zone.
Bulls absorb GRASS heavy liquidation pressure
Derivatives activity reflected rising instability as liquidation spikes intensified during GRASS’ rally toward $0.58.
Long liquidations reached more than $77.68K, while short liquidations remained near $23.5K across major exchanges. The imbalance showed bullish traders absorbed most of the recent volatility despite maintaining directional control during the move higher.
Binance alone recorded nearly $58.48K in long liquidations, which highlighted how leveraged buyers faced repeated shakeouts near local highs. However, buyers continued defending upside structure even after those aggressive liquidations emerged across the market.
The reaction suggested traders still maintained confidence in the ongoing recovery attempt. If liquidations continue cooling while the price stabilizes above current levels, bullish positioning could continue strengthening during the upcoming sessions.
GRASS reclaims key breakout structure
GRASS price action had already reclaimed the critical $0.53 support zone after GRASS rebounded sharply from the $0.30 region earlier this month. The latest breakout pushed price directly into the $0.60 resistance area, which previously rejected bullish expansion during earlier rallies.
Buyers briefly pierced that resistance zone before sellers forced a mild retracement back toward $0.56. Even so, the broader structure remained constructive because GRASS continued holding above reclaimed support.
The chart also showed a strong vertical recovery from May lows, reflecting renewed speculative interest around the asset.
If buyers sustain control above the $0.53 support area, GRASS could attempt another challenge toward the $0.60 resistance barrier. Failure to defend current levels, however, would likely weaken the recent breakout structure.
At the time of writing, the technical indicators continued reflecting improving bullish conditions as the MACD structure strengthened above the zero line. The signal line crossover remained intact while green histogram bars expanded during the recent breakout push.
Funding Rate reflects persistent long bias
At press time, the OI-Weighted Funding Rate data remained positive throughout most of May and recently reached 0.0074%, according to the latest derivatives readings. Positive Funding Rates usually reflect stronger long positioning because bullish traders continue paying premiums to maintain exposure.
The chart showed repeated periods of positive funding despite intermittent pullbacks across the market. Traders therefore appeared increasingly confident in GRASS’ upside continuation potential after the recent breakout.
If Funding Rates continue rising while price holds above support, leveraged traders could intensify upside exposure further. Excessively crowded long positioning, however, would also increase the probability of volatility spikes.
Final Summary
- GRASS reclaimed critical support despite weakening volume and aggressive long liquidation pressure.
- Positive funding rates showed traders still leaned bullish during GRASS’ breakout recovery attempt.