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VLX Price Prediction

Analytics

www.altcoinbuzz.io 07 May 2022 13:34, UTC
  
Reading time: ~2 m

Chromia is a blockchain platform for the creation and deployment of decentralized applications (DApps). For each DApp, the platform enables the creation of numerous blockchains, each of which is run by a fraction of nodes to maximize throughput.

Velas is a new blockchain network that claims to offer the fastest Ethereum Virtual Machine in the world (EVM). It was launched in 2019 as a fork of Solana’s blockchain. The platform attempts to compete with Solana, Ethereum, and Polkadot, among other smart contract systems. While Velas is relatively unknown, its transactions have been increasing. According to official statistics, there are over 2,500 wallet addresses, and around 34% of the Velas in circulation have been staked. There are now 9 projects in the ecosystem, with another 40 in the works. As a result, it’s a small smart contract network. Let us review the VLX price

VLX Price Prediction


Bullish Scenario: Following a 90 percent price increase last month, VLX may retrace back to support levels of $0.14. If VLX manages to break over the resistance level at $0.19 after retracements, it will be bullish in the short term. With sufficient purchasing activity, breaking above the $0.23 price barrier will lead to a rise towards $0.28 and $0.32.

Bearish Scenario: VLX has been in a decline for a few months, so we don’t have a strong long-term positive bias yet. If the $0.14 support level fails to hold, the price will eventually fall below $0.10, $0.05, and much lower.

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