Verasity, checking for a new entry. Much better this time!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 200 million and still has a lot of room to grow
Daily chart:
- Price took a hard hit during this flash crash and even shortly retested the 200MA. Currently we are below the yellow line and bull market support band. So a much better entry than last time.
- Volume stays relatively stable.
- RSI analysis shows that we are in a downtrend and are looking for a bounce back.
- Support lines are at 0.038$ and 0.01$.
- Resistance lines are at 0.062$ and 0.084$.
Expectation:
- Now that VRA has cooled off a lot we expect a consolidation phase before we bounce back up again.
- End of the year prediction: We will see a 0.2$+ 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.
