VVS Finance continues to make an impact in the market. In today’s trading session, the cryptocurrency is already showing signs of a bullish trend and closing strongly. The session will also be the third consecutive that the cryptocurrency is gaining in the markets.
VVS Finance was launched in November 2021, and it has spent most of its time in a bearish trend. Even looking at today’s prices, we can see that the prices are still on a bearish trend; however, the markets are correcting. The last three days, although looking bullish, are still in a very bearish trend.
Although the prices are also likely to continue rising, there is a very high likelihood that the cryptocurrency will reverse the bullish move and continue with the long-term bearish move. Looking at the total value locked (TVL) of the VVS coin, we see that the platform currently has over $1.2 billion in locked assets.
The past few months have also shown a growth in the total value of assets locked in the platform. This is despite the platform underperforming in the markets. For instance, in November of last year, the platform had about $311 million. Although this number is still significant compared to today, we can see that investors and users are bullish on the platform.
Looking at the chart below, we can see the prices of VVS finance are still on a long-term bearish move. However, today and the past two trading sessions have been bullish, resulting in a 6 per cent price increase. Unfortunately, the chart also shows that the prices recently set a new resistance level of $0.0000284.
However, looking at the chart and the past price action, my VVS price prediction is a downward move. I expect the prices to resume the bearish move in the coming days. I also expect the prices to touch the $0.000021 support level. There is also a high likelihood that the prices will break the long-term support level and trade below it.
This post was last modified on Apr 14, 2022, 15:23 BST 15:23