Vana (VANA) Gains Momentum Ahead Of Key Breakout: What's Ahead?

Date: Thu, Dec 26, 2024, 08:20 AM GMT

In the cryptocurrency market today, Vana (VANA) stands out with impressive performance. While major altcoins are experiencing a bearish trend, VANA, the native token of the newly launched EVM-compatible Layer 1 blockchain network Vana, has gained over 9% in the past 24 hours, showing strong momentum as it approaches a crucial resistance zone.

Source: Coinmarketcap

Key Breakout Ahead:

VANA’s recent price history has seen significant fluctuations. After hitting a high of $35.80, the token experienced a sharp correction, falling to around $15. However, VANA has shown a solid reversal, climbing back into the important resistance zone between $19.68 and $22.42. Currently, VANA is trading at $20.62, positioning itself at the lower end of this resistance zone.

Vana (VANA) 4H Chart/ Coinsprobe

If VANA maintains this momentum and manages to break above the $22.42 resistance level, followed by a successful retest, the token could push toward its next resistance levels of $29 and $35.80. This move would represent a potential 60% increase from the current resistance zone high.

What's Ahead?

As VANA nears the high of its resistance zone, its breakout largely depends on the broader market conditions. Bitcoin (BTC) is currently facing a slight decline of 1.60%. A bounce back in Bitcoin’s price could help spark a surge for altcoins, including VANA, allowing it to potentially break through its resistance and continue upward.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.

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