Wednesday, January 26, 2022
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By Brian Bollinger
Published 21 mins ago Updated 21 mins ago

The Verasity token shows V-top bearish reversal in its technical chart. This recent price retracement took a considerable toll on the token by losing around 63% of its value. The token price plummeted to $0.031 and currently shows recovery signs at this support.

VRA/USD Daily Time Frame Chart

Verasity Price Analysis: Reclaiming The $0.04 Mark VRA Token Hints More 28% GrowthSource-Tradingview

Past Performance or Trend

The Verasity token price experienced a roller-coaster ride in these last three, where the token made a huge rally of 240% in Uptomber. Still, after hitting the $0.876 mark, the token entered a correction phase and almost lost all its gain in November and December. The token price plunged to the $0.031 support and is currently obtaining strong demand near this level.

Veracity Token Attempts To Reclaim The 200-day EMA 

The VRA token plummeted to the $0.031 support about a week ago, and it spent this time identifying sufficient support from this level. On December 23rd, the pair gave a huge bullish candle of $18.5% gain, trying to breach the nearest resistance level of $0.4.

The token managed to provide a daily candle closing above this level; however, the breakout was not so prominent, and therefore the traders will require more confirmation to obtain a long entry signal. Today, the price is in a retest mode and which should confirm if this breakout is genuine or not.

By press time, the VRA token is trading at $0.039, with an intraday loss of 1.7%. The 24hr volume change is $101.9 Million, indicating an 84% hike. According to the Coinmarketcap, the token stands at #382 rank with its current market cap of $182.9 Million (+5.33).

VRA/USD 4-hour Time Frame Chart

Verasity Price Analysis: Reclaiming The $0.04 Mark VRA Token Hints More 28% GrowthSource-Tradingview

Technical Indicators

  • -The daily Relative Strength Index(47) has started recovering similar to the price action. Moreover, the RSI line is on the verge of crossing above the neutral line(50).
  • -As mentioned, the VRA token is trying to cross above the 200-day EMA line. If successful, the long traders would get an excellent edge on their side.
  • -The MACD indicators in the 4-hour time frame chart show both the MACD and the signal line moving above the neutral zone, projecting a bullish momentum.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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