VVS Crypto Following Bearish Price Structure; Will It Reverse?

• Following a strong downtrend, the value of the VVS crypto is consistently declining. 
• VVS Finance is built on Cronos and uses the CRC20 token standard.

VVS Finance is a DEX on the Cronos blockchain that aims to make DeFi simple and accessible. It offers low fees, fast transactions, and sparkly rewards. Users can swap, stake, and farm tokens on VVS, as well as participate in various applications and communities.

The total value locked of the VVS Finance is $159.213 Million and the market cap/TVL ratio of the crypto is 0.78. Additionally, the current market cap of the crypto is $123.14 Million, resulting in a global ranking of #293.

As per CoinMarketCap, the volume market cap of the VVS token has increased by 56.1% in the last 24 hours, resulting in a decline of 7.3% in the market cap of the crypto.

The volume/market cap ratio of the crypto is 0.69% and the VVS Finance token has a liquidity of $87.45 Million. Additionally, the annualized fees for the crypto is $5.44 Million and the revenue is $1.81 Million.

VVS Finance Token Overview

The VVS Finance token has a fully diluted market cap of $278.181 Million and a circulating supply of 44.071 Trillion VVS. Additionally, the total supply of the crypto is 85.603 Trillion VVS while the max supply is 100.0 Trillion VVS.

The VVS Finance token has a total of 1.4K holders and the circulating supply market cap of the crypto is $123.147 Million.

VVS Crypto Technical Analysis

The VVS crypto price is following a strong downtrend and is forming a lower low swing pattern on the chart. This behavior of the price has led to a decline of 98% in from its all-time high price.

The VVS crypto has a most recent support level of $0.00000190 and if the price breaks below this level, we might witness a further decline in the price.

VVS/USD Chart by TradingView

Although the 50-day and the 200-day EMAs are forming a golden crossover, the price of the crypto has declined below both the EMAs, indicating strong sellers’ dominance. 

The MACD and the signal lines are forming a bearish cross and the MACD line has declined below the zero level. 

The RSI is following a bearish cycle on the daily chart and has declined below the 50-level, currently residing at 29.02. Furthermore, the 14-day SMA is following the RSI and is situated below the 50-level. 

Summary

The VVS Finance token price is in a steep downtrend and has broken key support levels. The indicators are also showing bearish signals and the volume/market cap ratio is low. VVS may face greater losses unless it reverses the current bearish trend.

Disclaimer

The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.