Verasity Price Analysis: Reclaiming The $0.04 Mark VRA Token Hints More 28% Growth

The Verasity token shows V-top bearish reversal in its technical chart. This recent price retracement took a considerable toll on the token by losing around 63% of its value. The token price plummeted to $0.031 and currently shows recovery signs at this support.

VRA/USD Daily Time Frame Chart

Source-Tradingview

Past Performance or Trend

The Verasity token price experienced a roller-coaster ride in these last three, where the token made a huge rally of 240% in Uptomber. Still, after hitting the $0.876 mark, the token entered a correction phase and almost lost all its gain in November and December. The token price plunged to the $0.031 support and is currently obtaining strong demand near this level.

Veracity Token Attempts To Reclaim The 200-day EMA 

The VRA token plummeted to the $0.031 support about a week ago, and it spent this time identifying sufficient support from this level. On December 23rd, the pair gave a huge bullish candle of $18.5% gain, trying to breach the nearest resistance level of $0.4.

The token managed to provide a daily candle closing above this level; however, the breakout was not so prominent, and therefore the traders will require more confirmation to obtain a long entry signal. Today, the price is in a retest mode and which should confirm if this breakout is genuine or not.

By press time, the VRA token is trading at $0.039, with an intraday loss of 1.7%. The 24hr volume change is $101.9 Million, indicating an 84% hike. According to the Coinmarketcap, the token stands at #382 rank with its current market cap of $182.9 Million (+5.33).

VRA/USD 4-hour Time Frame Chart

Source-Tradingview

Technical Indicators

• -The daily Relative Strength Index(47) has started recovering similar to the price action. Moreover, the RSI line is on the verge of crossing above the neutral line(50).
• -As mentioned, the VRA token is trying to cross above the 200-day EMA line. If successful, the long traders would get an excellent edge on their side.
• -The MACD indicators in the 4-hour time frame chart show both the MACD and the signal line moving above the neutral zone, projecting a bullish momentum.

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