- The VARA Crypto has high liquidity based on its market cap.
- In the last seven days, Vara Network crypto has lost its value by 28%.
Vara Network (VARA) is a Layer-1 blockchain focusing on decentralized application development, particularly in gaming, finance, and asset tokenization. VARA addresses performance, scalability, and security challenges, offering a versatile platform for developers and users in Web3. It underpins various dApps, including DeFi, aiming to improve efficiency and security while providing alternatives to traditional finance.
Vara Network crypto has witnessed a decline of 1.14% in its market cap over the last 24 hours. Despite this, the value of the traded volume for the crypto has advanced by 29% in the previous 24 hours, which further follows a volume/market cap ratio of 4.56%.
The market cap of the crypto is $41.895M, and the market cap ranking of the crypto is #699. Its traded volume is $1.975M in the last 24 hours.
The circulating supply of the crypto is 412.328M VARA, and the total supply of the crypto is 10.0B VARA. Despite this, the maximum supply of the crypto is not disclosed, and the fully diluted market cap is $1.013B.
The VARA crypto hit an all-time low price of $0.0488 on November 04, 2023, nearly 5 months ago. Since then, the price has advanced by 105%, and its all-time high price is $0.1953. The price of the VARA is trading 48% lower than its all-time high price, which was achieved on September 22, 2023.
The crypto’s sentiment is bearish, as per Coincodex, and the market cap dominance is very low. Its volatility is very high at 17.51%. Also, the fear and greed index of the crypto indicates extreme greed.
VARA Crypto Technical Analysis
The price of the crypto revolves around the rising wedge pattern. Huge spikes have occurred in either direction, further indicating extreme volatility in the crypto price.
If the price breaks above the higher band of the wedge pattern and sustains above the same, a further surge in the crypto price might be seen, followed by an uptrend.
VARA/USD Chart by TradingView
The 20-day EMA is supporting the VARA price. The 20-day and 50-day EMAs are trading in a golden crossover on the daily chart of the VARA crypto. It indicates the possibility of a further surge in the crypto price.
The MACD and the signal lines are trading above the zero level, followed by a bullish cross. That indicates the short-term trend for crypto is bullish.
The RSI is also sustaining above the 50 level, followed by the 14-day SMA trading above the same. Furthermore, the RSI is following a bullish cycle.
Summary
VARA Crypto exhibits extreme price volatility, experiencing a recent decline of 28% within a week. Despite this uncertainty, its high liquidity, supported by a $41.895M market cap and significant trading volume, offers opportunities for traders. Technical indicators suggest a potential bullish trend, yet caution is advised due to price unpredictability.
Technical Levels:
- Support levels: $0.04910 and $0.06700
- Resistance levels: $0.1800 and $0.26900
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.