Gram holds firm as broader crypto market weakens
Gram is holding up better than most altcoins. The token has not set a new 52-week low and continues to defend a key support level.
Unlike many major altcoins, which experienced significant corrections after the probability of a Federal Reserve rate hike in July increased, Gram (ex-Toncoin) has maintained a stronger technical structure.
This price action suggests that holders are not rushing to take profits despite the deterioration in risk appetite across the cryptocurrency market.
The asset's relative strength is particularly noticeable compared to Bitcoin and Ethereum, both of which faced heavier selling pressure following the latest Federal Reserve meeting.
Gram (ex-Toncoin), on the other hand, gained more than 1% yesterday.
Gram consolidates near key resistance
Despite yesterday's relative strength, Gram remains in a broader downtrend.
As mentioned in our previous analysis, the 200-day simple moving average (SMA) remains a key support level. Gram successfully defended this area.
The boundaries of the local trading channel continue to act as support and resistance. Consolidation is expected to continue in the near term as the price gradually approaches the upper boundary of the pattern.
The $1.68–$1.78 zone is likely to determine the asset's next major move. A successful breakout above this range would increase the probability of a rally toward $2.00.
If Gram fails to overcome resistance, the price is likely to retest the 200-day SMA. A breakdown below that level would generate a strong bearish signal and could trigger a decline toward the $1.50–$1.30 area.
The RSI (14) remains in neutral territory, suggesting that traders may soon see a stronger directional move. Since the beginning of June, Gram has exhibited relatively low volatility, indicating that the market may be “building energy” for its next significant breakout.
Stronger assets often lead during recoveries
In April, Pavel Durov announced the “Make TON Great Again” strategy. It includes seven stages of network development, including higher performance, lower fees and scaling. As a result, Gram has emerged as one of the more resilient assets in the cryptocurrency market.
It is important to remember that the cryptocurrency market remains highly sensitive to macroeconomic developments. If Bitcoin continues to decline, selling pressure on Gram could intensify as well.
However, history shows that stronger cryptocurrencies tend to recover much faster than weaker assets once market sentiment begins to improve and a new trend emerges.
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