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- 1 The correlation between price and MVRV rate shows a positive relationship, with a potential significant price decrease if more investors sell.
- 2 VVS Finance’s price structure faced a battle between bulls and bears, with bears gaining momentum on March 9th, 2024.
The price structure of VVS Finance has been in a fierce battle, with bulls initially holding the upper hand. However, on March 9th, 2024, bears entered the game and caused bulls to lose momentum. As a result, bears took over and established lower lows and highs on the daily chart.
The VVS Finance price remains below major resistance levels from the 20-day and 50-day EMA bands and is tracking a downward trendline on the daily asset chart. Meanwhile, RSI is at 50.37, declining below by facing resistance from 14-SMA, and MACD is has formed a bearish cross and is at 0.0000000015.
At the time of writing, the VVS Finance price has faced an increase of +2.30% since yesterday and was at $0.00000485 at press time. If the VVS Finance price asset drops below the $0.000004300 threshold support, it may continue to fall and reach lower points in the coming sessions.
Conversely, should there be a surge in demand for the VVS Finance price asset, it may rebound significantly from its present price level. The next target for the price may be to hit $0.000005800, and beyond this price level, it could stretch up to $0.000006600.
Social Dominance And Volume Evaluation Of VVS Finance
The sentiment of social dominance can be used to gauge the degree of acceptance of VVS Finance cryptocurrency among users. During the specified time frame, the social dominance chart depicts that VVS Finance displays a downward trend.
The social volume of the VVS Finance crypto seems to be declining in recent sessions. It indicates a continuation of the ongoing short-term trend and a fall in the social volume also indicates the decreasing awareness regarding VVS Finance crypto.
The VVS Finance price may decrease due to the decline in social dominance, as the number of participants decreased, signaling low demand, possibly leading to a fall in the value of the VVS Finance asset.
30-Day Market Value To Realize Value Shows VVS Finance Price Is Likely To Decline
The correlation between the price of VVS Finance and the MVRV rate over the past 30 days is shown in the chart. The MVRV ratio measures the average profit or loss that investors who bought VVS Finance in the past 30 days have experienced.
The data indicates a positive relationship between the VVS Finance price and its MVRV rate, showing that they are both moving in sync.
When the VVS Finance price rises, the increase in the MVRV ratio shows an increase in the number of participants. In the same way, if the VVS Finance price drops, the ratio will also drop, indicating that more investors are losing.
The graph indicates a decrease in MVRV, with the 30-day MVRV ratio for the VVS Finance price falling, leading to a correction in price from the closest supply area. It shows that the VVS Finance price might plummet significantly if additional investors decide to sell, leading to a price fall.
Summary
VVS Finance’s price structure faced a battle between bulls and bears, with bears gaining momentum on March 9th, 2024. The price remains below major resistance levels, tracking a downward trendline. RSI has declined, MACD formed a bearish cross, and the price saw a 2.30% increase since yesterday.
Social dominance and volume are decreasing, signaling low demand. The correlation between price and MVRV rate shows a positive relationship, with a potential significant price decrease if more investors sell.
Technical Levels
Support Levels: $0.000004300
Resistance Levels: $0.000005800
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
