TVK Coin Price: Can $0.042 Become the Pivotal Point for Reversal? 

• TVK coin price is currently trading at $0.019 while observing an increase of 1.96% during the intraday trading session.
• Price is getting consistent resistance from the 50-day EMA. 

Terra Virtua Kolect (TVK) is a cross-platform non-fungible token (NFT) ecosystem. It provides a marketplace for NFT creators and collectors. The platform consists of web, PC, and mobile augmented reality and virtual reality environments. Terra Virtua focuses on enabling users to enjoy digital assets with other users as well as to trade within the community.

Past Actions of the TVK Coin

In May 2022, the TVK coin price dropped almost 84% to the pivotal level of $0.025 which became a demand for the next coin holders. From this level, the coin price recovered up to 179%. Subsequently, it again dropped to the same level. 

TVK coin price started its second bullish rally from the important support level of $0.025. Consequently, it reached near the previous resistance at $0.063. However, the price failed to break above that resistance which resulted in a breakdown of the pivotal level of $0.025.

After the breakdown, the TVK coin price consolidated for three months, and it again fell to the next potential support at the $0.017 level. At present, the price has given a breakout of the major trendline with low volume.

The total market capitalization of the Terra Virtua coin stands at $22,940,995 with an active circulating supply of 1,193,878,749 TVK coins. 

Technical Analysis and the Price Prediction

The TVK coin is currently performing in a downtrend below the 50-day EMA and the 200-day EMA. In the wider outlook, the price is facing consistent resistance from the 50-day EMA reflecting the strong bearish trend. Right now, the 50-day EMA is at $0.020 and the 200-day is at the level of $0.026. 

At press time, the price experienced a fall from the consolidation at the $0.025 level. It is currently trading at the level of $0.019 by giving a breakout from the trendline forming below. However, due to the low volume during the breakout, it is not showing any strong sign of the price reversal. It seems it is moving toward the immediate resistance at $0.022. However, if the price is able to break above this resistance probably it may reach the $0.025 level. 

Furthermore, the relative strength index (RSI) is showing a bullish divergence which alerts the bears for further selling. At present, the RSI is at 45.40 below the signal line.

Conclusion

Overall, the TVK coin price has been in a bearish trend since the initial coin offerings. Currently, the price has given a breakout from the trendline formed below. It is currently moving toward the immediate resistance of $0.025.So, if the price is able to break above this resistance probably it may reach the $0.025 level. If it also closes above the $0.027 resistance, it may be seen rising toward the $0.039 resistance. However, if the price manages to close above $0.042 then it will be seen as a sign of trend reversal.

Technical Levels

• Resistance levels: $0.022 and $0.027
• Support levels: $0.017 and $0.013

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto assets comes with the risk of financial loss.