GRASS confirms a strong breakout above $2.00, signaling a bullish shift after six months of tightening symmetrical triangle compression.
Volume surged as GRASS broke above long-term resistance, turning $2.00 into support and setting the stage for a continued upward move.
The 161.8% Fibonacci extension near $5.50 now acts as the next key resistance zone following GRASS's confirmed breakout pattern.
GRASS has confirmed a major breakout above its six-month symmetrical triangle, signaling a potential 150% rally. The breakout, spotted on the daily GRASSUSD/SPOT, shows price action pushing decisively above $2.00. At the time of writing, GRASS trades at $2.2587, up from previous resistance levels. This development may be the beginning of a sustained bullish phase. The pattern formed between November 2024 and May 2025, showcases tightening price action and lower volatility. As a result, the market created a perfect storm for a breakout.
Source: Captain Faibik
Symmetrical Triangle Pattern Concludes with Volume Surge
The symmetrical triangle spanned from a $4.00 high in November down to the $0.85 region in early 2025. A descending trendline captured the lower highs, while an ascending line tracked higher lows. Together, they compressed price within a narrowing range. The final breakout in May came with increased trading volume, signaling strong conviction. Hence, this movement confirms the pattern’s end and a likely trend reversal.
Additionally, GRASS bounced off its $0.85 low and steadily built support between $1.30 and $1.90 from March through April. The price then surged above $2.00, flipping resistance into new support. This $2.00-$2.10 zone now serves as the critical base for the ongoing rally.
Fibonacci Extension Points to $5.50 Target
The analysis highlights a 161.8% Fibonacci extension level near $5.50 as the next resistance. This zone aligns with the upper green-shaded area marking the breakout’s bullish target. Consequently, traders expect momentum to push price toward this zone if volume sustains.
Moreover, the breakout’s strength comes from surpassing long-term resistance established during previous highs. November’s massive rally from under $1.00 to over $4.00 set the upper channel. GRASS hovered around $3.50 to $2.50 during December before trending downward. However, its steady recovery in 2025 hinted at a structural bottom.
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