In a surprise move on Binance, VANA vs USDT jumped a whopping +3315% in a short period, hitting a record high of $35.00 before settling near $34.14. This massive surge has caught the attention of traders and investors looking for opportunities to ride the rally, or avoid the risk of potential price corrections.

Technical Analysis of the Currency: Potential Buy and Sell Points

1. General price trend:

The big rise reflects massive liquidity entering the coin, causing a strong upward move. However, a bounce from the $35.00 high could signal short-term resistance.

2. Technical indicators:

Volume:

We saw a strong increase in trading volumes in conjunction with the rise, then these volumes started to gradually decrease, indicating a possible decline in buying momentum.

Moving Average (MA):

The 5-day moving average (MA5) at 1,260,474.84 started to decline after the top.

The 10-day moving average (MA10) indicates relative stability, which puts the market in a wait-and-see mode.

Relative Strength Index (RSI):

At 75.55, the index is in the overbought zone, which increases the possibility of an imminent correction.

3. Entry and exit points (buy and sell):

Ideal point of purchase:

It is recommended to wait for the major support areas at $24.23 or even $11.76 in case the price undergoes a downward correction.

Monitoring trading volumes at these levels will be key to knowing when purchasing power returns.

Point of sale:

The most important level currently is $35.00, which represents a strong resistance. If this level is broken with an increase in trading volume, the next target could be $36.70 and beyond.

VANA's Next Target: Where Is It Heading?

Positive scenario:$VANA

If the price successfully breaks the resistance at $35.00, the coin could see an upside move towards $36.70, which is the next target. Continued buying momentum could push the price towards entirely new levels.

Negative scenario:

If the resistance breach fails and the market comes under selling pressure, the support levels at $24.23 and $11.76 will be the focus of investors looking for new buying opportunities.

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Conclusion:

Despite the massive upside, VANA’s next move requires close monitoring of key resistances and supports. A price stability above $35.00 could signal a continued upside, while a drop to support levels will provide great buying opportunities.

$VANA

warning:

Please consider high market volatility and manage risk carefully before entering into new trades.