The Verasity cryptocurrency has caught the attention of investors, with its recent wave count analysis signaling the potential for significant gains. With its recent price movements indicating a potential bullish trend, investors are eyeing this digital asset with heightened interest.
Analyzing the market dynamics, a market expert has identified a promising wave count scenario for VRA, particularly focusing on the Purple wave count. As per analyst Egrag Crypto, VRA has successfully completed its Wave 2 phase and is now poised for an upward surge in Wave 3, which is historically regarded as the most robust phase in such wave patterns.
The target set for this imminent surge stands at Fib 0.786, translating to a projected value of 0.05c. Such a trajectory suggests substantial gains for investors, with potential returns estimated to reach up to 5x in the near future. However, for those willing to exercise patience, the prospects extend even further, with a possibility of reaping returns as high as 90x, targeting Fib 1.618.
At press time, the live price of Verasity stands at $0.009853, reflecting a slight uptick of 0.49% over the last 24 hours. Despite the relatively modest movement, key indicators such as the 1-Day RSI reading of 48.22 suggest a balanced market sentiment, neither leaning towards overbought nor oversold conditions. This equilibrium hints at the potential for a price increase in the near future.
The 1-day MACD is trading below the signal line, which signals a short-term bearish trend. However, it’s important to note that this doesn’t necessarily undermine the broader bullish outlook, especially considering the strong historical performance associated with Wave 3.
Similarly, the 1-Day KST trading below the signal line may indicate a temporary slowdown in the stock’s recent upward momentum. Nevertheless, such fluctuations are not uncommon in the volatile world of cryptocurrency, often preceding significant uptrends.
