Verasity, checking for a new entry. Currently at ATH, so wait!Intro:
- Verasity (VRA) is a protocol and product layer platform for esports and video entertainment
- Verasity keeps building since 2017 and has planned to introduce NFT's to their platform during Q4 2021.
- In circulation we have 6 billion coins out of currently 10million possible.
- Total market cap is currently around 500 million and still has a lot of room to grow
Daily chart:
- Price finds itself in an uptrend and currently sits at an ATH, so be cautious.
- Volume keeps increasing since August which is bullish and with the trend. It therefore confirms the trend.
- RSI analysis shows that we are within a larger consolidation wedge. The apex still is one month away which could act as a cool off phase.
- Support lines are at 0.05$ and 0.01$.
- Resistance lines are currently nonexistent.
Expectation:
- We expect VRA to cool off and retest the 0.062$ price line. From there we look for a support confirmation which would serve as a good entry point.
- End of the year prediction: We will see a 0.2$+ VRA before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
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Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
