- VARA crypto has seen 16 green days in the last 30 days.
- This crypto network has very low liquidity based on its market cap.
Vara Network is a decentralized Layer-1 network facilitating dApp development across various sectors like gaming and finance. VARA addresses performance and security challenges, serving as the backbone for DeFi applications.
It offers alternatives to traditional finance, supporting savings, borrowing, investment, and trading with improved efficiency and security.
The market cap of the Vara Network has witnessed a decline of 1.04% in the last 24 hours. Furthermore, the crypto’s market cap is worth $37.796M, and its market cap ranking is #678, per CoinMarketCap. The VARA crypto price is currently trading at a level of $0.09112.
The value of the crypto traded volume has declined by 30.5% in the last 24 hours, resulting in a traded volume worth $926K. This results in a volume/market cap of 2.45%.
The fear and greed index for Vara Network crypto indicates greed. Despite this, its volatility is very high, resulting in 16.88%. The crypto sentiment is bearish, and the current market cap dominance is 0.00%, according to CoinCodex.
The current circulating supply of the Vara Network crypto is 415.314M VARA, followed by the 10.0B VARA. This further results in a fully diluted market cap of $911.674M and the maximum crypto supply is not defined.
The all-time low price achieved by VARA crypto is $0.0488, and the crypto price since then has advanced by 86.94%. The all-time low price was completed on November 4, 2023, nearly five months ago.
Price Volatility Vs. Weighted Sentiment Of VARA
The crypto price volatility is very low, showing a decline in the trader’s crypto activity. The weighted sentiment of the VARA Network is also at a significant low, showing a decrease in crypto social media activity.
VARA Crypto Technical Analysis
The price of the VARA crypto is trading inside a parallel wedge pattern and has most recently formed a double top pattern and is slipping toward the lower levels. The trading price of crypto also declines after forming an inside candle pattern.
The current scenario of the daily chart presents the possibility of further decline in the trading price of the crypto. If the cost of the VARA crypto further breaks below the wedge pattern, a substantial decline in the crypto price might be seen.
VARA/USD Chart by TradingView
The VARA crypto price has declined below the 50-day EMA while the 20-day and the 50-day EMAs are trading in a golden cross. The cost of the crypto has hit the 200-day EMA. If it rebounds and sustains above the same, a further surge in the crypto price might occur.
The MACD and the signal line trade above the zero level but follow a bearish cross, followed by the formation of bearish histograms on the daily crypto chart.
The RSI further has declined below the 50-level and the 14-day SMA. This shows the declining momentum in the crypto price, and if the RSI fails to rebound above the 50 level, a further decline in the crypto price might be seen.
Summary
VARA crypto’s price is hovering within a narrow range, showing bearish signs. Despite 16 green days in the last 30, it faces low liquidity and declining sentiment. The technical analysis suggests a potential further decline, especially if it breaks below a wedge pattern. Traders should watch for a rebound above key moving averages.
Technical Levels:
- Support levels: $0.0490 and $0.0670
- Resistance levels: $0.1580 and $0.1800
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.