Update

Disclaimer: Do your own research before invest.

Support and Resistance $VANA


Resistance
The price has encountered significant resistance at the 27.996 level. It has repeatedly tested this level and failed to break through.There's another minor resistance level around 26.900.

Support
The current support level appears to be around 24.904, which is the Buy Average Price.The price has bounced off this level multiple times, indicating its importance.
Technical Analysis

Price Action
The price has been consolidating in a range between 24.904 and 27.996 for the past few minutes.
There is a clear downward trend visible, with the price making lower highs and lower lows.
Volume
The volume is moderate, indicating some interest in the pair.
The volume bars are generally decreasing, suggesting a potential loss of momentum.
Possible Scenario
Given the current price action and technical indicators, the following scenario is possible:
Downward Pressure: The price might continue to face downward pressure and could potentially retest the 24.904 support level.Breakout: If the price manages to break above the 27.996 resistance level, it could signal a potential upward move. However, the current momentum seems to be favoring the bears.
Important Note:
This analysis is based solely on the chart provided and is not a financial recommendation. It's crucial to conduct thorough research and consider multiple factors before making any investment decisions.
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