GRAM approaches key support as geopolitical risks rise
GRAM remains under pressure amid worsening geopolitical tensions and the absence of new fundamental catalysts. After six consecutive sessions of declines, the token is approaching the $1.36 support level, where a short-term technical rebound could emerge.
The ongoing exchange of strikes between the United States and Iran continues to drive investors away from risk assets, including GRAM. Additional pressure comes from Brent crude rising above $90 per barrel, increasing inflation concerns ahead of the Federal Reserve's interest rate decision on July 29.
The external environment is particularly important for GRAM because of its relatively low liquidity. A deterioration in sentiment across the cryptocurrency market could trigger sharper price swings than those seen in Bitcoin or Ethereum.
GRAM targets $1.50 if key support holds
As highlighted previously, the base-case scenario continues to play out, with GRAM gradually approaching another test of the key $1.36 support level.
The token has declined for six consecutive trading sessions, increasing the probability of a short-term technical rebound if this support holds. In that case, the first upside target would be the previously broken $1.50 level, which has now turned into resistance.
An additional argument supporting a potential rebound is that the 14-day Relative Strength Index (RSI) is approaching oversold territory. However, confirmation of a reversal will require the price to hold above $1.36 on stronger trading volume.
GRAM upside remains limited without new fundamental catalysts
GRAM has lost relative strength and continues to underperform the broader cryptocurrency market. Even if the token rebounds from $1.36, the move should still be viewed as a technical recovery rather than confirmation of a sustained trend reversal.
For bullish momentum to return, GRAM will need a strong fundamental catalyst directly related to the token or the TON ecosystem. Without such a catalyst, upside potential is likely to remain limited near $1.50, while price action will continue to depend on Bitcoin, geopolitical developments, and overall market risk sentiment.
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