GRAM Bounces 4.5% But Can't Break Up With $1.80 — Traders Eye $1.50 Support for a Second Date

Gram [GRAM], rebranded from Toncoin, rose 4.5% over 24 hours following the completion of its transition and Binance's mid-June announcement of support for the rebranding. On July 3, the exchange confirmed the launch of a GRAM spot trading tournament, lifting visibility, volume and market sentiment, according to the source. The rally topped out at a local high of $1.84 before pulling back at the time of writing.

The broader chart structure pointed to deeper drawdown territory. Measured from a swing high of $2.90 set on May 7, GRAM had retraced 50.3% over 30 days to reach a low of $1.44. The token has since spent roughly a month consolidating between $1.50 and $1.81, with no clear breakout in either direction on the daily timeframe.

On-chain and technical indicators offered a mixed picture. The Chaikin Money Flow read +0.04 and has not crossed above the +0.05 threshold since late May, signaling that sustained buying pressure has yet to materialize. At the same time, the consolidation zone sits within the golden pocket between the 61.8% and 78.6% Fibonacci retracement levels of the prior move.

Price action remained neutral despite the bullish structural backdrop. The $1.80 local supply zone has rejected upward moves for the second time since mid-June, with the latest rejection described as sharp. Should the supply zone hold, GRAM could revisit the $1.50 support area. A decisive breakout and retest above $1.80 would mark a fresh bullish trigger, per the analysis.

Traders had two flagged scenarios on the table: waiting for a retest of $1.50 support, or a confirmed breakout and retest past the $1.80 supply zone, before initiating new long positions.