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Should You Buy The Dip In Verasity?


 

Verasity (VRA / USD) was down over 2% on Saturday as the sell-off deepened. Verasity is now trading over 70% below its all-time high it hit in November. Many investors are now stuck because of the huge decline. Verasity provides rewarded video player technology to major publishers and game developers around the world. The patent-pending technology enables tokenized rewards and loyalty programs within a video player wallet.

VRA shows no signs of recovery anytime soon and continues to break key supports. Veracity rose sharply in October but failed to hold above resistance and therefore fell sharply in November and December. VRA traded over 2% lower on Monday and showed no signs of reversal even as price broke key support, suggesting the bears were still in control.

Hence, investors are now wondering whether they should take advantage of the slump at Verasity.

  • VRA has fallen sharply since November and has failed to reverse at multiple levels of support, showing that the bears are in control and bulls are nowhere to be seen.

  • Strong support can be seen at $ 0.0255. VRA broke support this week and also formed bearish candles on Sunday and Monday. Therefore, investors should not go long until they can break out of the support zone again.

  • The RSI is almost oversold. So it looks like there will be a retest soon.

  • VRA has also created a head-and-shoulders pattern. Therefore, investors should avoid any long entries below the support zone.

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