GRAM loses relative strength after breaking key $1.50 support
GRAM is underperforming the broader cryptocurrency market after falling below a key support level, signaling weakening short-term momentum.
Despite the recent price decline, activity across The Open Network (TON) ecosystem remains relatively stable. According to DefiLlama, decentralized exchange trading volume within the ecosystem has reached approximately $85 million so far this month, down from $188 million in the previous month.
While this points to cooling market activity following July's surge, current volumes remain well above spring levels, suggesting that investor interest in the ecosystem is still intact..
Break below $1.50 triggers stop-loss cascade
On July 17, GRAM broke below the key $1.50 support level, triggering a sharp increase in selling pressure. The decline accelerated as stop-loss orders were activated and short-term long positions were liquidated.
Following the breakdown, the price tested the next support around $1.36. If sellers manage to establish the price below this level, the probability of further downside will increase significantly, with the next target zone located between $1.28 and $1.20.
The base-case scenario for the coming days remains a retest of the $1.36 support, followed by an attempt at a short-term technical rebound toward $1.50.
However, traders should remain cautious. A decisive break below $1.36 could trigger another wave of long liquidations and accelerate the decline toward the lower boundary of the target range.
Lack of fresh catalysts weighs on GRAM
GRAM had previously outperformed the broader cryptocurrency market, but that trend has reversed in recent days. The token is now showing weaker relative strength and has started to lag behind the wider market.
With no new fundamental catalysts emerging, investor attention has shifted back to the technical picture. The break below key support has only reinforced bearish sentiment and increased selling pressure.
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