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Verasity (VRA)

Verasity’s VRA Defies FUD: Analysts Weigh In

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Verasity’s VRA token is back in the spotlight as bullish signs emerge. The crypto project focused on video game esports is gaining massive traction amidst a period of overall bearishness in the crypto market. The chart below highlights the bullish pattern for the token. Market analysts are highlighting a relatively stable market capitalization [around $30 million] despite facing criticism, or FUD in the crypto community.

Proponents argue that this stability positions VRA for a potential breakout, comparing it to Bitcoin’s early struggle. BTC took several years to hit $1,000 after its initial launch. Although the chart below highlights the bullish pattern for the token, it should not be considered financial advice.

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Verasity’s VRA Defies FUD: Analysts Weigh In 2

There are several factors, Verasity supporters believe position the token for a potential breakout:

  • Limited Supply: With only 9.93 billion VRA tokens currently left in circulation, proponents argue that the project has a strong foundation for scarcity-driven price appreciation.
  • Token Burn: The recent burning of 1 billion Pov tokens, part of Verasity’s Proof-of-View [PoV] consensus mechanism, is seen as a positive step towards reducing overall token supply and potentially increasing the value of remaining VRA tokens.
  • Robust support: Buyers are stepping in, preventing further dips.
  • Healthy correction: This consolidation paves the way for the next leg up.

VRA on the Rise: Burned Tokens and Bullish Signals

VRA is Looking Strong once again! The past is behind us. The facts are: There are only 9.93B tokens left. They burned 1B of the 90B Pov tokens. Finally, those incredible upward spikes could be making a comeback!

Others chose to see from a broader perspective. They went ahead to claim that VRA will benefit from Bitcoin stabilizing and the crypto market picking up steam after a drawdown. “Verasity looks all set for a massive breakout!, one user wrote. “If BTC keeps climbing, altcoins are likely to follow, and Verasity could be a major player in the Web3 space.” The analyst’s short-term targets for the token are $0.010 and $0.015.

Verasity (VRA): Scaling Heights with 3000% Potential Surge on the Horizon

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Verasity (VRA) has come out as an exceptional performer, attracting investors’ attention with its astonishing strength and gains in price. In addition, for the past week, VRA surged almost 50%, demonstrating its adaptability in crypto volatility. Not only this but also during the recent month it showed strong growth gaining almost 105%.

EGRAG CRYPTO, a renowned crypto analyst has shed more light on further upwards potential for VRA particularly highlighting Verasity Launch pad. The analyst pointed out that it could increase significantly proposing if VRA closes above “Verasity Launch Pad” monthly candle pump can result to even 3000%.

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Technical analysis supports this bullish sentiment, with indicators signaling that VRA is poised for a breakout, particularly with the monthly candle opening above Fib 0.382. The prospect of a close above Fib 0.5 (equivalent to $0.013) could further fuel the momentum for VRA.

Verasity (VRA) Short-term Price Forecast

As of the time of reporting, Verasity is trading at $0.010522 with a 24-hour trading volume worth $39.48 million and market capitalization amounting to $107.85 million. Notably, the VRA price has witnessed a notable uptick of 10.01% within the last 24 hours alone.

Looking ahead, current price predictions for Verasity (VRA) paint a positive outlook. Coincodex predicts that VRA will rise by 22.47% to around $0.012685 by March 6th, 2024. Also, sentiment indicators are supportive, the Fear & Greed Index at 80 means investors are excessively greedy.

Moreover, technical indicators from Coincodex show that Verasity’s 200-day Simple Moving Average (SMA) may be rising and can reach approximately $ 0.007320 by March 31.

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Verasity (VRA): Scaling Heights with 3000% Potential Surge on the Horizon 5

Moreover, its short-term 50-Day SMA is estimated to be around $ 0.010611 by the same date. Currently, RSI stands at 83.36, which suggests that the VRA market is presently overbought.

Recent performance for Verasity has demonstrated that it could possibly be an attractive investment opportunity in the cryptocurrency market space. VRA continues to make headlines as one of the best performing digital assets in the market with bullishness prevailing and technical indicators suggesting more upside potential.

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