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- 1 The IMVU crypto revealed a sign of sustenance as the price is not going below the support level.
- 2 The technical indicators tools like EMA, MACD, and RSI illustrate the bullish potential.
VCORE is an ERC-20 virtual reality-based token entering the IMVU metaverse, an existent community, virtual world ecosystem, and ecosystem.
The IMVU token’s desktop, mobile, and web apps benefit a worldwide audience across 100+ countries, with support for 13 separate languages, facilitating a creator-driven economy for VCORE users to connect, socialize, and earn.
The evolution of the IMVU metaverse to a web3 economy comprises a community of its regular users and a prosperous economy developed by existing platform users.
IMVU Token (VCORE) Technical Analysis
According to the CoinMarketCap website, the trading volume of the IMVU crypto has decreased by 29.64% on all the tradeable platforms in the last 24 hours. Its market value is $900,615.11, and its trading volume is $132.167.79. There are 226.37 Million VCORE self-claimed assets in circulation, while its total supply is 8 Billion VCORE.
The IMVU token highlights that the price has been in an uptrend earlier over a daily timeframe and showed a sharp increase over time. The price flew from the demand zone at $0.001800 to the supply level at $0.005350. This scenario looks like a quick dump over the chart as the uptrend got violated, and the price came back to the demand zone.
After a prolonged consolidation in the same demand zone, the price flew once again from the price point of $0.001800 to the new greater supply level at $0.017000. This phenomenon was repeated, and the price plunged again as buyers failed the war with the sellers.
However, the IMVU crypto revealed a sign of sustenance as the price is not going below the support level of around $0.003250 on the chart.
At the time of publishing, the crypto experienced an 8.74% surge in the last 24 hours, trading at $0.003721. Therefore, if IMVU manages to advance contingent on buyers’ interest, the resistance would be at $0.005350.
On the flip side, if the IMVU crypto price fails to stay above $0.003250, it could decline further and reach new depths.
The technical indicators tools like EMA, MACD, and RSI illustrate the bullish potential. The price is sustained on dynamic support of the 20-day and 50-day EMAs, the MACD line is above the zero line, and the RSI of IMVU is above the median line.
Summary
The IMVU crypto has seen a significant drop in trading volume by 29.64% across platforms in the last day.
Previously, IMVU’s price had been trending upwards, moving from $0.001800 to $0.005350. Then, after a period of stability, it spiked to $0.017000 before falling back. Despite this volatility, the price has not fallen below the support level of $0.003250.
If the upward momentum continues, it could face resistance at $0.005350. Conversely, the price may fall further if it drops below $0.003250.
Technical indicators like EMA, MACD, and RSI suggest a bullish outlook, with the price supported by the 20 and 50-day EMA, the MACD line above zero, and the RSI above the median, indicating potential for further gains.
Technical Levels
Support Levels: $0.003250
Resistance Levels: $0.005350
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
