At the time of writing, VLX is being traded at the price of $0.2331. The price of the coin has decreased by almost 16.13% in the past 24 hours. The maximum and minimum of the day are around $0.2831 and $0.2265. The daily trading volume has on the other hand has also decreased by almost 75% in one day. VLX is listed on coinmarketcap at 130th spot according to market capital and has a market dominance of about 0.02%.
VLX before the crash had achieved its all-time high around the price of $0.3499 in May 2021. During the crash, VLX created a bottom and dropped down to $0.036 in July. Just like many other coins, the coin showed reversal but and it wasn’t long before it went to create a new all-time high around the price of $0.54 during the month of November.
VLX has a total supply of around 2.2B tokens and has nearly all of them in the circulation i.ie around 2.2B. VLX can be traded at a lot of different exchanges such as KuCoin, HitBTC, ZBG, FMFW.io.
Technical Analysis – Velas (VLX)
Velas (VLX) has been consolidating for a long time and eventually broke out with gigantic green candles that resulted in the price achieving a new high. The price has continued to make a new higher high but it wasn’t able to sustain the price and broke down. The price broke the structure and is now going down.
A point of interest is the equilibrium point of the consolidation which can be the reason for the price to a dropdown. Right now, the price is dropping down and is respecting the trend line.
We can expect the price to drop down from where we can look for a possible long entry in VLX . Lower time frame confirmations should be taken into consideration to have a clean entry in the price. The final target for the price lies around $0.40.
Price Prediction – Velas (VLX)
Velas (VLX) has been one of the highly bullish coins in the market. According to wallet investor, VLX in one year is expected to reach a value of $0.582. In five years, it is expected to touch $1.649. This shows that VLX has a huge amount of potential in it and would give an amazing return to the people who would hold it.
