VENICE TOKEN (VVV) has seen a bearish trend with a significant loss in the past month, now showing signs of preparing for a further downward move on the daily chart.
After a slight recovery above $3, VVV encountered resistance at $3.15 this week, signaling a potential continuation of the bearish pattern towards lower levels.
Key levels to watch include a support target at $2.38, with $1.8 as the next crucial support level. A break below these levels could lead to a sharp decline towards $1.
On the upside, a breakout above $3.15 resistance may open doors for retesting levels at $4.13 and $5.34, although the current trend indicates bears are in control.