Venice Token [VVV] continues to advance after a successful bounce off from the $21 support zone, which was previously the resistance level that acted as a barrier against bears. At the time of writing, VVV surged by 10% in the past 24 hours.
The rise follows the addition of new products with AI technology, namely Hy4 Preview, Muse Spark, and Muse Wonder by Venice. At the same time, VVV’s revenue growth has been aided by increased adoption of its AI solutions, with October generating the most revenue on the platform.
Could solid fundamentals aid VVV in breaking into the $30 liquidity cluster?
Can VVV defend the $21 support?
VVV’s rebound follows repeated tests of the $21 price zone, which has shifted from resistance into a key support zone for the network bulls.
Remaining above this level will enable the bullish formation to be maintained and also provide the bulls a chance to attack stronger resistance. On the other hand, breaking down below the $21 level will undermine the bullish technical setup.
But with the token still trading above the 50-day, 100-day, and 200-day MAs, VVV’s long-term structure still leans on the favor of bulls.
Is $30 VVV’s next target?
The next major barrier for the bulls sits around the $30 resistance level. The price level hosts an unmitigated liquidity cluster worth $31 million that could attract market attention, according to the liquidation heat maps data.
If VVV manages to hold the support and buying activity gains momentum, then it could help the coin move towards this area. Revenue growth and AI product development will likely provide support to sentiment, but traders require further confirmation from the price action itself.
Currently, the focus should be on $21 as breaking below it might complicate the journey towards $30.
Final Summary
- VVV rebounded from the $21 support zone after repeated tests, with buyers eyeing resistance near $30.
- Venice Token’s expanding product lineup and reported revenue growth could strengthen sentiment, while a sustained break below $21 would weaken the bullish setup.
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