In this Venus technical analysis, we will examine the current price action, trading volume, key levels and indicators for XVS-USDT. Venus (XVS) is a decentralized finance (DeFi) platform that aims to provide users with a wide range of financial services, including lending, borrowing, and trading. The platform utilizes a novel proof-of-liquidity consensus algorithm, which allows for faster and more secure transactions compared to traditional proof-of-work algorithms. Additionally, Venus (XVS) features a unique governance model that enables holders of the native cryptocurrency, XVS, to participate in decision-making processes and shape the future of the platform.
Venus Price Overview:
As of May 17, 2024, Venus is trading at approximately 9.45 USDT. Let’s dive into the detailed price action for XVS-USDT:
| Metric | Value |
|---|---|
| Open (O) | 9.39 |
| High (H) | 9.58 |
| Low (L) | 9.3 |
| Close (C) | 9.45 |
| Volume (C) | 65,676.51 |
- Open (O): The opening price for today’s trading session was approximately 9.39 USDT.
- High (H): Venus reached a daily high of around 9.58 USDT.
- Low (L): The daily low for XVS-USDT was approximately 9.3 USDT.
- Close (C): At the time of analysis, Venus is trading near its daily close of 9.45 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.64% |
| 3D Change (%) | 5.35% |
| 7D Change (%) | 0.64% |
| 30D Change (%) | -1.36% |
| 90D Change (%) | -22.41% |
| YTD Change (%) | -18.88% |
Over the past three days, XVSUSDT has risen by approximately 5.35%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 0.64%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with XVSUSDT maintaining a downward trend of approximately -1.36%, despite intermittent fluctuations. Examining the last 90 days, XVSUSDT has witnessed substantial drop of approximately -22.41%, reflecting strong long-term confidence. Year-to-date, XVSUSDT has steadily depreciated by around -18.88%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Venus Live Chart:
You can access a live price chart for XVS-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.50854.
- Momentum score is -0.07625.
XVS USDT Technical Analysis
Venus Trading Volume:
The trading volume for Venus (XVS) over the past 24 hours has been insignificant, with approximately 65,676.51 USDT traded against XVS. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): XVS is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Venus is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for XVS-USDT is currently in the low zone, around 42.75824. This suggests that Venus is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Venus (XVS-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Understand Venus’s (XVSUSDT) challenges at 9.45 USDT with detailed bearish technical analysis, highlighting weakened support and cautionary indicators.
Missing our detailed breakdown on XVS BTC Venus Technical Analysis would be a lost opportunity if you found value in this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.