ambcrypto.com
3 h
Venice Token [$VVV] reclaimed its 100-day EMA after a 10% surge and began testing the 200-day Exponential Moving Average (EMA).
The token traded above several key EMAs as trading activity accelerated, giving bulls another hurdle to clear.
Large orders also appeared around the current trading price. Meanwhile, Spot and Futures Volume nearly tripled over 24 hours, pointing to increased participation and potential short-term volatility.
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The question now is whether that activity can help $VVV hold its reclaimed levels and push through the 200-day EMA.
Recent Spot Average Order Size data showed larger orders around $VVV’s current price, suggesting increased participation from large traders.
However, order size alone does not establish whether those traders were buying or selling.
The pickup extended across both spot and futures trading.
Over 24 hours, $VVV’s Spot Volume increased by 185% to $16.60 million. Futures Volume climbed 186% to $109.72 million over the same period.
Together, these readings pointed to heightened market participation. If larger orders reflect sustained buying, they could help $VVV extend its advance.
Still, rising volume can accompany profit-taking too. Buyers would need to maintain price gains to strengthen the bullish case.
Recent derivatives data showed a modest preference for longs, which accounted for approximately 51% of reported futures positions. That slight advantage could support the bullish outlook if spot buyers remain active.
However, the reading alone does not establish crowded long exposure.
If leverage builds while momentum fades, liquidation risks could increase. For now, reclaiming the 100-day EMA gave bulls a firmer foothold. The 200-day EMA remained the next technical test.
A sustained break above it, followed by support at the reclaimed averages, could strengthen the case for further gains. By contrast, rejection at the 200-day EMA could leave $VVV vulnerable to a pullback.
Further overhead, the Liquidation Heatmap showed a liquidity cluster worth $35.90 million near the next swing high at $30.90. That zone could become a potential upside target if the rally continues, although the cluster does not guarantee a move there.
