GRIFFAIN - About to take off?
Updated
GRIFFAIN is an AI agent project on Solana blockchain. The price has been consolidating since 13th Dec and the price has broke above the resistance line at $0.35. The current chart set up in Daily timeframe looks to me exactly the same as that of ai16z on 27th Dec when the price skyrocketed from $0.90 to the current price of $1.72. MACD crossed above 0 level and showed green histogram bar, and RSI and Stochastic both crossed and clearly pointed upwards in the bull territory. That all three momentum indicators show clear bull signal in Daily chart doesn't happen often. I invest in this project and do not intend to do short term trading wit this asset. I think another parabolic leg is coming just like ai16z. I might take small profit if momentum indicators start to show clear negative divergence in 4H or daily chart, but I intend to hold most of my position until it reaches 1 billion Market cap.
Note
MACD doesn't show up in the chart above, but if you go to Dexscreener, you can. Trade active
It looks that the overall AI agent ecosystem is going through a temporary correction. Griffain chart still looks good to me. Daily chart is still showing the strong bull trend. 4H MACD amd RSI have crossed downwards, but 4H stochastic is moving upwards. When three momentum indicators show conflicting signals, I interpret it as the price is just consolidating. When I look at the price action in 1H timeframe, I can see a strong support at $0.35 level. I will continue to observe how it will unfold.
I don't leverage trade, so I will just let it ride until it reaches 1bill market cap.
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