Coin Overview:
Venus (XVS) is the native token of the Venus Protocol, a decentralized lending and borrowing platform built on the Binance Smart Chain. Launched in August 2020, XVS holders benefit from governance rights and can participate in liquidity mining to earn rewards. Notably, XVS reached an all-time high of $147.02 in May 2021, but has since experienced significant price fluctuations. Its all-time low sits at $1.65, recorded in October 2020.
Weekly timeframe:
XVS bulls take charge, breaking the long-term downtrend.
A potential shift in momentum towards the upside.
Daily timeframe:
The consolidation phase will be between $11.45 and $13.28, following a mid-term uptrend.
This range could be interpreted as a healthy pullback after a bullish rally.
A decisive break above $13.28 could signal a continuation of the uptrend.
Current situation:
Recent sharp decline likely due to broader market volatility and a strong bearish candle on Bitcoin.
XVS can potentially return to its consolidation range once the market sentiment settles.
Support levels:
$10.5: A strong break below this level could expose XVS to further downside, with the next potential support at $7.58.
Important notes:
This analysis is for informational purposes only and should not be considered investment advice.
Always conduct your own research and employ proper risk management strategies before making any investment decisions.
Venus (XVS) is the native token of the Venus Protocol, a decentralized lending and borrowing platform built on the Binance Smart Chain. Launched in August 2020, XVS holders benefit from governance rights and can participate in liquidity mining to earn rewards. Notably, XVS reached an all-time high of $147.02 in May 2021, but has since experienced significant price fluctuations. Its all-time low sits at $1.65, recorded in October 2020.
Weekly timeframe:
XVS bulls take charge, breaking the long-term downtrend.
A potential shift in momentum towards the upside.
Daily timeframe:
The consolidation phase will be between $11.45 and $13.28, following a mid-term uptrend.
This range could be interpreted as a healthy pullback after a bullish rally.
A decisive break above $13.28 could signal a continuation of the uptrend.
Current situation:
Recent sharp decline likely due to broader market volatility and a strong bearish candle on Bitcoin.
XVS can potentially return to its consolidation range once the market sentiment settles.
Support levels:
$10.5: A strong break below this level could expose XVS to further downside, with the next potential support at $7.58.
Important notes:
This analysis is for informational purposes only and should not be considered investment advice.
Always conduct your own research and employ proper risk management strategies before making any investment decisions.