VVS Finance Price Prediction: Why VVS is Likely to Drop Again

Summary:

VVS Finance is up by less than a percentage point. However, it is likely that the current price gains will reverse and resume bearish trend.

VVS Finance is up by half a percentage in today’s trading session. The cryptocurrency has also traded upwards for the past three consecutive days. In yesterday’s trading session, VVS Finance rose by 4 per cent, extending a two-day gain streak.

VVS Finance Price History

Despite the last four days showing signs of an aggressive upward move, the past few months have been very bearish. In May, VVS Finance lost 58 per cent of its value. The drop was partly a result of the short-term cryptocurrency crash that resulted in almost all cryptos losing their value.

However, even before the mini-cryptocurrency crash happened, VVS Finance was still in a downfall. Since the year started, VVS Finance has lost 73 per cent of its value. The long-term price history also shows the cryptocurrency hit its all-time high price of $0.0001549 on November 24, 2021. Since then, VVS Finance has lost 94 per cent of its value.

The above VVS Finance price history shows that despite the recent traction in the decentralized exchange platform, its struggles in the markets have been persistent. With a circulation of over 18 trillion coins, the market’s growth has also been hindered by its massive coin supply.

VVS Finance Price Prediction

VVS Finance is up in today’s trading session. The bullish trend today is extending days of upward move that have resulted in a 10 per cent price gain in the past three days. Today’s trading session is also looking likely to close at a higher price level. However, looking at the chart below, the general trend of the cryptocurrency has been extremely bearish.

For instance, in May, the crypto lost 58 per cent of its value. Therefore, basing my analysis on past price action, I expect the prices to continue dropping. As a result, we are highly likely to see the prices trading below the recent $0.00000772 price low. However, should the prices break and trade above $0.00001, then my analysis will be invalidated. It will also mean a possible bull move.