Unfortunately I will not be looking to buy $GRAIL here, as based on TA they are currently on a downtrending market structure. They recently broke down from the support of around $1512, and has a final support at $1402. If looking strictrly at TA, I would like to see either a bounce from final support, or to go back above $1512 with a healthy bounce before looking to enter a position again. On fib levels I would also want to see it go back up to to 0.236 on the 4H before consolidation and an eventual move up again.
Onchain, looking at TVL, CamelotDEX is currently at $89m while their ATH stands at ~$114m. There has also been a decline of active users the past month, going back down to pre-Arbitrum airdrop levels. This might be due to liquidity being drawn most recently towards meme coins, and recently the rise of $GND might be the cause of some outflows.
Overall I am bullish on the project and the services it provides as they are still looking to onboard new launches on their launchpad and increase the size of their round table. I am also holding $GRAIL and $xGRAIL for the rewards, but I would be holding for a long term play (and also managed to enter ~$1200), but I would advise those looking to scalp and trade the coin to proceed with caution. It is relatively illiquid (total supply only at 10k), and based on values might have huge swings based on value, but hoping towards the upside as the market cap for the coin is relatively small ($14m).
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