VRA still struggles with major levels of resistance, ensuring that any good bullish strength never takes form.
Penetrating the $0.001824 resistance level may unlock the way for VRA to test higher levels at $0.002743.
Increased volume action signals VRA is due for a breakout, pending resistance level interactions.
Verasity ($VRA) has been stronger than most other altcoins during the recent market adjustment, maintaining a strong price despite volatility. Despite being stable, VRA has yet to show the explosive growth needed to make it stand out among other cryptocurrencies, leaving traders wondering where it will go next.
Even with this resilience, VRA has not shown any significant breakout to truly stand out from the pack. The coin continues to struggle at key resistance levels, consistently failing to demonstrate the kind of explosive growth that would indicate a strong bullish trend.
Market Dynamics and Price Action
VRA’s price action remains capped by the 50-day Exponential Moving Average (EMA) at $0.001575, despite bullish momentum and ongoing resistance. This EMA has proven to be a dynamic resistance level, preventing significant upward movement in the token’s price.
On the support side, the VRA price has a well-established floor of $0.001105, where the price has bounced several times. The volume indicators demonstrate high concentration in the area between $0.0010 and $0.0015, which implies this area contains firm support for the token.
Technical Insights by Dark Horseman
According to market analyst Dark Horseman, VRA is facing substantial resistance around the $0.001824 level. This resistance sits just above the current price, and overcoming it could trigger a breakout towards the next levels of resistance.
https://twitter.com/Dark__Horseman/status/1917579381121208781
The breakdown points out that for any bullish momentum to take root, VRA must break past the near resistance at $0.001824. A pop above this point with volume can lead to even more price movement to the area of resistance around $0.002743, which has been significant before.
Key Indicators and Support Levels
The Stochastic RSI readings suggest that short-term momentum remains positive, with the K line at 77.23 and the D line at 63.88. This positioning suggests that VRA may experience bullish movement if the price breaks through the resistance.
Volume readings also show an increase in activity trading, providing more evidence for the likelihood of a potential breakout. Overall, VRA is ready to break out or potentially pull back, depending on how it reacts to resistance levels above the current price.