- VRA’s Double Bottom pattern signals potential breakout, setting up for a possible ATH surge.
- Egrag forecasts a massive VRA rally, with Fib 1.618 suggesting a 10x rise from previous ATH.
- VRA’s technical setup and improving market sentiment could drive it to new heights, delivering massive returns.
Verasity (VRA) is making waves in the crypto space as it approaches a potential all time high (ATH). In an X post on Wednesday, Egrag has created buzz among the VRA community; the token’s technical chart predicting a jump soon. The expert is forecasting a huge rally for Verasity, and it may happen in one “God’s Candle” – the term used to describe a sharp price growth that can thrust VRA higher.
VRA Positioned for Growth
Specifically, VRA has been recently forming a “Double Bottom”, a technical pattern, which reflects a shift from the downward trend to upward. This formation has taken longer to form than most, primarily because of the general market macroeconomic environment, but, Verasity is finally positioned to make a breakout move. The market is finally expected to reap the rewards, with the token’s price action setting up for a breakout.
One major level of interest for coin price is the “Purple Box”, which is a significant resistance area from the chart. The author of Egrag Crypto has pointed out that once Verasity manages to close above this area, it will be in a place to breach the Fib 0.5 level. This would prevent several “dead cat bounce” — a short-term rally on the price which does not have the ability to move further upward. This breakout would not be a start of a new upward trend towards new ATHs but the beginning of a strong rally.
Breakout Potential for VRA
Fueling the bulls’ argument, Egrag identifies the Fib 1.618 level that suggests that VRA could rise tenfold from its previous ATH. From the above analysis, the traders usually employ this Fibonacci level to predict other price targets subsequent to a breakout; therefore, since Verasity is almost at this level, there are high hopes of a great price surge. Verasity token is trading at $0.007739, up by 1.31% over the past day.
Source: TradingView
The Verasity community is currently full of hope, with the hope that this may be the time that the token will really break through to new heights. The technical signals are coherent and the market sentiment is gradually improving which creates a chance for cryptocurrency to jump to a new level. Should the breakout happen as expected, Verasity could produce tremendous returns for investors, and propel it to the forefront of the crypto market.
