Gram [GRAM], formerly Toncoin, fell 5.77% in the past 24 hours. On the 23rd of October, the altcoin’s price fell 11.08% in just one hour, from $1.30 to $1.15. Incidentally, this price dip was the first time GRAM fell below the $1.30 demand zone that has been kept intact since early August.

The price drop caused a cascade of long liquidations. CoinGlass liquidation data revealed that $5.83 million in long liquidations across all exchanges was recorded on Friday, compared to just $240.3k in short liquidations.

Buyer exhaustion at a key support zone combined with a liquidation cascade helped explain the recent GRAM losses.

How traders can capitalize on GRAM’s bearish bias

Toward the end of September,…