After VVV surged 12% in the past 24 hours, the market is now focused on whether this rebound can continue. Foreign media reports that, compared to previous short-term rallies, this surge is supported by moving average levels, capital flow indicators, and community sentiment, thus attracting more attention to its short-term trend.
The 20-day moving average has become a key point of observation again.
The article argues that the current price is approaching the 20-day moving average. This level has repeatedly acted as support in VVV's past trading, with prices typically finding support and rebounding after falling back to this area. If this support holds, VVV may continue its move towards previous highs.
Meanwhile, the Money Flow Index (MFI) remains in the positive range of 50 to 80. Based on this, the article concludes that the slight decline in the indicator is more likely due to some profit-taking rather than a significant market withdrawal. If the MFI subsequently rises again, it means that new funds may be entering the market again.
The triangular structure has been broken twice.
The article also mentions that VVV's current price structure is similar to the patterns before its two previous price surges. The chart shows an ascending triangle structure, where the lower support gradually rises while the upper resistance is relatively flat. This type of pattern is generally considered a bullish consolidation in the crypto market.
According to the article, similar patterns appeared around February 25th and May 1st, both followed by significant upward breakouts. Each time the price retraced to the support zone, the Bull and Bear Power indicator would initially show a bearish bar, then turn into a bullish bar, indicating that buying pressure had regained control.
Community voting remains predominantly bullish.
In addition to technical factors, community voting data also remains bullish. Foreign media reports that sentiment indicators tracking bullish and bearish votes show that approximately 75% of participants still expect VVV to continue rising.
This percentage is lower than the 88% before the price surge, indicating that some investors were concerned about overvaluation before the price rally began. However, in reality, prices did not weaken due to these concerns; instead, they continued their upward trend. The article concludes that while market sentiment has cooled slightly compared to before, it remains generally bullish.
