Venice Token climbs 12% – Chart patterns suggest a run at new highs

Venice Token [VVV] was up 12% in the previous day as of press time, and this rally seems to have actual substance behind it—unlike that time you confidently said "this one's different" and it wasn't. The asset appears positioned to extend its gains over the next couple of trading days, with trader interest holding firmly to the bullish narrative. Capital concerns persist, but the structural setup and community sentiment suggest VVV is likely to continue in its upward direction.

The VVV rally has begun as the asset approaches the 20-day Moving Average, a level that has previously served as a key support zone on numerous occasions, resulting in bounces back to higher levels. Trading into this zone could deliver the momentum needed to push VVV into new territory, particularly toward its all-time high target. Capital movement, however, has not yet shown significant fresh inflow making its way into the market. The Money Flow Index is ticking lower in the latest reading, suggesting a current liquidity outflow. Notably, as of writing, the MFI was still in the positive zone between 50 and 80, implying that the slight decline could be due to profit-taking rather than a broader capital outflow. A continued upward trend in the MFI from here would signal fresh capital returning to the market, providing the fuel needed to sustain a new high in the near term.

A fractal pattern playing out on the chart suggests VVV making a new all-time high is not only possible but structurally supported. The chart analysis compares the current price structure to the ascending triangle pattern alongside the Bull and Bear Power indicator. The ascending triangle consists of price ranging between a diagonally rising support level and a horizontal resistance line, a formation that typically resolves with a breakout to the upside. This pattern has formed on two previous occasions—February 25th and May 1st—both of which preceded significant breakout rallies. Each time the asset dipped into the support zone, a red bar appeared, followed by a green bar signaling bulls re-entering the market. This sequence of green bars sustained the rally until VVV eventually broke out to higher levels. The current structure mirrors both of those prior setups, and if the fractal plays out again, a new all-time high for VVV could be the outcome.

Community sentiment continues to reflect a broadly bullish outlook for VVV, though with a measured tone. The Community Sentiment indicator, which tracks the extent of bullish and bearish voting on an asset, shows 75% of participants voting for VVV's continued upswing at the time of writing. This represents a slight decline from the 88% reading recorded before the rally began, suggesting some investors viewed the asset as potentially overpriced ahead of the move—a concern that has since done the opposite of what that concern implied.