Verasity (VRA/USD) was trading 2% lower on Saturday as the sell-off deepened. Verasity is now trading 70% below its all-time high, which it hit in November, and many investors are stuck due to the big drop. Verasity provides award-winning video player technology to leading game publishers and developers worldwide. Patent-pending technology allows token rewards as well as loyalty schemes in a video player wallet.
The VRA is showing no signs of recovery anytime soon and is continually breaking out crucial supports. Veracity had a big sharp rally in October, however it was not able to stay above the resistance and therefore dropped sharply in November and December. The VRA was trading more than 2% lower on Monday and was showing no signs of reversing even as it broke through crucial support, which showed that the bears were still well in control.
So investors are now wondering whether to buy the dip in Verasity.
Here is what the graphs are pointing to –
The VRA has been falling sharply since November and has failed to reverse through several support levels, which shows that the bears are well in control and the bulls are nowhere to be found.
Strong support can be seen at $0.0255, the VRA has broken out of support this week and has also formed bearish candles on Sunday and Monday, so traders should not go long until it manages to break above the bearish zone. Support.
The RSI is almost in the oversold zone, so it looks like a retest will be seen soon.
The VRA has also formed a head and shoulder pattern, so traders should avoid long entries below the support zone.
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