The Venus coin is a privacy-centric cryptocurrency that was built on the Zerocoin protocol. It has been around since 2014 and was initially used as an exchange medium for the now defunct dark web marketplace, Silk Road. Since then, its popularity has grown significantly and it’s now available on many mainstream exchanges such as Binance.
The venus price prediction 2025 is a technical analysis for the cryptocurrency, Venus.
We utilize historical data, price analysis, RSI, MA, and other information about XVS to evaluate the cryptocurrency’s future trend in Technical Analysis of Venus (XVS) for 2021.
Venus is a synthetic stablecoin system and algorithmic money market that was first launched on the Binance Smart Chain (BSC). The protocol provides a simple way for users to borrow and lend crypto assets in the Decentralized Finance (DeFi) ecosystem, enabling them to borrow directly with collateral for high-speed lending and lower transaction costs.
Current Market Situation for Venus (XVS)
At the time of writing, the XVS price was $31.61 with a 24-hour trading volume of $52,653,236 according to CoinGecko. XVS, on the other hand, has risen by 3.7 percent in the past 24 hours.
Furthermore, there are 10,586,434 XVS coins in circulation. XVS is traded on Binance, Tokocrypto, CoinTiger, Hotcoin Global, and HitBTC at the moment.
Venus (XVS) Technical Analysis 2021
On CoinGecko, Venus (XVS) is now ranked 158th. XVS may be pushed to new heights by current development and improvements. Let’s take a closer look at the XVS technical analysis for 2021. The chart of Venus (XVS) in daily time period is given below.
Head and Shoulder Pattern XVS/USDT (Source: Tradingview)
The head and shoulders top is used to forecast reversals in downtrends in an inverse head and shoulders pattern, which is identical to the normal head and shoulders pattern but reversed.
The decline is the start of the inverse head and shoulders pattern. As sellers leave and buyers step up, this is the long-term fall that will ultimately lead to fatigue and a reversal upward. The decline meets minor support, creating the first shoulder. As the market rises, it encounters significant resistance, and the downturn continues.
The neckline is the strong resistance level. Following a lower bottom, the market finds solid support, creating the pattern’s head. The market is once again met with resistance near the neckline, which serves as the second shoulder.
XVS is now trading at $30.9. Following that, XVS may continue to decline or increase, depending on the breakout direction. With this trend, XVS may quickly hit the $76 resistance level. If the trend continues, the price of XVS may drop to $12.72.
RSI for Venus (XVS)
The relative strength index (RSI) of XVS is seen in the chart below.
RSI XVS (Source: TradingView)
The RSI is still at 65.07, as seen in the chart above. This indicates that the price of XVS is almost overbought. This demonstrates the need of traders trading cautiously, since a big price reversal may occur.
RVOL Venus (XVS)
The Relative Volume of XVS is shown in the graph below. It’s a metric that shows traders how the current trading volume has evolved over time in comparison to the prior trading volume.
RVOL XVS (Image courtesy of TradingView)
The RVOL of XVS is now below the cutoff line, indicating that it is one of the weaker players in the current trend.
Moving Average for Venus (XVS)
The chart below shows the Moving Average (MA) for XVS. MA aids traders in identifying patterns.
MA XVS (Image courtesy of TradingView)
XVS is now in a bullish trend. However, the price of XVS is above the 50 MA (short-term) and has a good probability of rising. Furthermore, the XVS price is above the 50 MA and the 200 MA (long-term), indicating that it is fully bullish. Furthermore, there is always the potential of a trend reversal.
Comparison of the prices of Venus (XVS) and Bitcoin
The price comparison between XVS and BTC is shown in the graph below.
Chart comparing the prices of XVS and BTC (Source: TradingView)
The trend of the BTC can be seen on the chart, and XVS is going in lockstep with the trend. This means that when the price of BTC rises or falls, the price of XVS rises or falls as well.
With the continuing improvements and updates to the XVS platform. In this crypto economy, Venus has a bright future. XVS, on the other hand, has the potential to soar to new heights.
The bullish price forecast for XVS in 2021 is $38.5. As previously said, it has the potential to reach tremendous heights, but it may also hit $76 if investors believe that XVS is a solid investment in 2021.
What exactly is XVS?
Venus Protocol’s governance token is XVS. The Venus System is a money market and stablecoin protocol that supports the Binance Smart Chain. This protocol is a fork of MarkerDAO and Compound.
Where can you get your hands on XVS?
Binance, Tokocrypto, CoinTiger, Hotcoin Global, and HitBTC are just a few of the cryptocurrency exchanges that have XVS listed.
Will XVS be able to set a new ATH in the near future?
With the XVS platform’s continuous development and improvements, it has a good chance of achieving its ATH shortly.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
You’ve been recommended
The is venus crypto a good investment is an interesting question that has been asked many times. Venus is a cryptocurrency with a focus on low fees and fast transactions. It is currently ranked as the number one coin in the world by market cap.
Frequently Asked Questions
Is Xvs crypto a good investment?
Xvs crypto is a good investment.
Does technical analysis apply to crypto?
No, technical analysis does not apply to crypto.
What is technical analysis in crypto trading?
Technical analysis is the study of how markets work, and what determines their price. It uses historical market data to predict future prices.
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