At the time of writing, VLX is being traded at the price of $0.4621. The price of the coin has increased by almost 10% in the past 24 hours. The maximum and minimum of the day are around $0.4919 and $0.4202. The daily trading volume has on the other hand has also increased by almost 103.68% in one day. It is listed on coinmarketcap at 93rd spot according to market capital and has a market dominance of 0.05%.
VLX before the crash had achieved its all-time high around the price of $5 in May 2021. During the crash, VLX created a bottom and dropped down to $0.035 in the month of June. Just like many other coins, the coin showed reversal but it wasn’t strong enough. It eventually went on to create new higher highs and lower lows since then.
VLX has a total supply of around 2.24B tokens and all of them are in the circulation i.ie around 2.24B. It can be traded at a lot of different exchanges such as KuCoin, HitBTC, Gate.io.
Technical Analysis – Velas (VLX)
VLX has a really clean chart. We can see that the price of the coin had been dropping continuously a few days back. It was a constant decrease in the price but eventually, the bears lost momentum. That is when the price of VLX showed reversal. It remained there for two or three days and then shot upwards by printing big green candles.
Now during the drop, VLX had created a daily order block. It had also left an imbalance due to the presence of a wick. The middle point of the wick also coincides with the daily order block. We can expect the price of VLX to drop down after it mitigates that level. A drop till the imbalance zone and the breaker can be expected of the price from where we can look for a possible long.
Price Prediction – Velas (VLX)
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 $0.730. In five years, it is expected to touch $2.044. This shows that VLX has a huge amount of potential in it and would give an amazing return but traders think that it wouldn’t be long before it reaches a new all-time high and starts trading above $2.
