- VARA’s volume has risen by over 600% in the last 24 hours.
- Its price has remained in the $0.03 range.
As a seasoned analyst with over two decades of market experience under my belt, I find myself thoroughly intrigued by Vara Network’s recent performance. The 600% surge in VARA volume within the last 24 hours is nothing short of remarkable and has undoubtedly caught the attention of traders and investors alike.
Over the last day, the native token of Vara Network, known as VARA, experienced a significant jump by approximately 60%. This sudden spike has piqued the interest of both investors and traders, placing Vara crypto among the top performers currently gracing the cryptocurrency market.
Showing increased trading volume and robust technical growth, it appears there is more room for its value to rise based on its behavior patterns.
VARA breaks key resistance levels
Over the past 24 hours, the value of Varacoin (Vara crypto) increased from $0.022 to $0.031. This upward trend was fueled by a significant spike in trading activity, with over 132 million tokens exchanged.
The CoinMarketCap chart also highlighted a steep upward trajectory in market capitalization, with a clear breakout above the $0.025 resistance level.
As a researcher, I’ve noticed an impressive surge in our market capitalization over the past 24 hours, exceeding 40%. At the moment, we stand at approximately $20 million. This substantial jump suggests a significant change in market sentiment, indicating that VARA has transitioned into a bullish phase.
As a crypto investor, I’m keeping a close eye on the latest charts from TradingView, and here’s what I’ve noticed: The technical indicators suggest that this rally is backed by some powerful forces. Specifically, the Relative Strength Index (RSI) stands at 76.52, which signals overbought conditions. This means that more of the asset is being bought than sold, confirming a strong bullish momentum in the market.
As an analyst, I’m noticing that the MACD histogram is showing a substantial increase, which indicates a surge in buying pressure. On a smaller timeframe, it appears that VARA is about to experience a Golden Cross event, where its 50-day Simple Moving Average (SMA) will cross above its 200-day SMA. This could be a positive sign for the stock’s future trend.
Vara crypto sees trading volume surge
Over the last seven days, the trading activity for Vara crypto has reached its peak at a staggering $12.71 million, indicating robust market engagement and serving as evidence of the ongoing bullish trend.
Over the past few days, there’s been a noticeable drop in its social media excitement. A look at its social activity on Santiment reveals that it hasn’t surpassed a score of one for the past three days.
Can Vara crypto maintain its momentum?
Moving forward, the value of VARA might encounter resistance around $0.035, with the next significant barrier at $0.040. In case of a decline, potential support levels at $0.028 and $0.025 could offer some protection.
Realistic or not, here’s VARA market cap in BTC’s terms
If VARA manages to maintain its present pace and surpass the $0.035 mark, it might pave the way for an upward trend potentially reaching $0.050 within the upcoming weeks.
The “Golden Cross” formation and rising RSI suggest that VARA’s bullish trend is far from over. However, traders should remain cautious of higher-level profit-taking, which could lead to short-term volatility.
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2024-11-19 01:11