Verasity (VRAUSD) Price Remains Strong at the Upside
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Verasity (VRAUSD) Price Forecast: February 7
The market price of VRAUSD remains strong on the upside despite the moves from the bears. The coin might possibly rebound from the support at $0.007500 value and resume its bullish correction if the bulls could add more effort to their buying pressure and are able to break up the $0.00864541 supply mark, then we can expect a good upside momentum up to the $0.01000 upper high value.
Key Levels
Resistance Levels: $0.008000, $0.009000, $0.01000
Support Levels: $0.007000, $0.006000, $0.005000
VRA (USD) Long-term Trend: Bullish (Daily Chart)
The VRAUSD pair portrays a bullish market trend in its long-term outlook. The price responded to the shift in the market structure and is currently above the moving averages.
The bull’s pressure on the crypto in the past days has enabled the price to remain stronger above the supply levels.
The coin price on the daily chart today at the $0.007500 support value is currently trading above the moving average lines. This is an indication of an uptrend. Thus, staying at this trend will make it capable for the crypto to rise further.
Therefore, if the bulls should increase their tension in the market, the price tendency will move above the key levels which might further extend the Verasity price to reach the $0.01000 resistance mark soon in its long-term outlook.
VRA (USD) Medium-term Trend: Bullish (4H Chart)
The currency pair’s orientation trades in a bullish market in its short-term outlook. The price bar is seen above the moving averages.
The intervention from the buy traders at the $0.00864541 resistance level in the previous action has made the coin price remain strong above the supply trend line.
The market value of VRAUSD at the $0.00761357 support level above the two EMAs shortly after the commencement of the 4-hourly chart today, indicates an uptrend in the context of the strength of the market. Thus, buyers need to add more pressure to their activities to move the market beyond the current price level.
Meanwhile, staying above the resistance levels will make the price of Verasity rise further. Should the bulls increase their buying pressure, the pair may likely grow to retest the $0.00864541 resistance level in the days ahead in its medium-term perspective.
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