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- 1 IMVU token price faced selling pressure and witnessed lower low swings.
- 2 Buyers have lost momentum and are struggling to attain momentum.
The IMVU token (VCORE) price witnessed range-bound moves and was in a downward sloping trendline hurdle for the past sessions. The trend is favoring the bears and suggests a retracement ahead. Amidst the bullish market sentiments, the token did not witness any significant rise and remained in the narrow range. Additionally, the technicals are indicating a bearish crossover and suggest that the bear cartel persisted in pushing the token and are expecting to break the support zone of $0.002500 in the upcoming sessions.
At press time, the IMVU token (VCORE) price was trading at $0.002963 with an intraday drop of 5.50%, reflecting bearishness on the charts. It has a monthly return ratio of 23.80% and 52.90% on a yearly basis. The pair of IMVU/BTC is at 0.0000000419 BTC, and the market cap is $34.17 Billion. Analysts are neutral and suggest that VCORE price may face selloff ahead and will retest the demand zone of $0.002200 soon.
What IMVU Token Reflects On Hourly Charts?
On the daily charts, the IMVU token price reflected a downove and is trading below the key moving averages, signifying the underperformance on the charts. Moreover, the token is anticipating a retracement ahead and may retest the demand zone of $0.002200 soon. The trend is favoring the sellers and bears persisted in showcasing their dominance.
For weeks, the IMVU token price has been hovering in the range between $0.002700- $0.003000, reflecting low volume buying activity. Additionally, the token failed to sustain the 200-day EMA, and faced rejection multiple times for weeks. Until the $0.003200 mark was not exceeded, the token persisted in facing selling pressure and continued to underperform in the next sessions.
The relative strength index (RSI) curve stayed in the oversold region and formed a negative divergence on the charts. Similarly, the MACD indicator shows a bearish crossover and formed red bars on the histogram indicating the seller dominance.
Per the Fib retracement levels, the IMVU token is trading below the 38.2% zone and is on the verge of the 23.6% zone showcasing a downtrend. Additionally, the token is trading in the lower bollinger band.
The total supply of the VCORE token is 8 billion, whereas the volume to market cap ratio is 0.00154.
Summary
The VCORE token price signifies a downtrend and is hovering near the crucial support zone of $0.002900 mark. However, the bulls need to cross the trendline hurdle of $0.003200 to revert the trend.
Technical Levels
Support Levels: $0.002500 and $0.002300
Resistance Levels: $0.003200 and $0.003500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
