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Verasity Gains and Predictions Outlined by Analyst

2 mins
Updated by Kyle Baird
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Verasity has been one of the best performing coins in recent weeks, having increased by 6x since November 20. However, it began to retrace on December 1. A small decrease is likely before the price makes a final upward wave.
The coin has only been around since May and has experienced significant volatility in several occasions. Full-time trader @CryptoMichNL stated that the Verasity (VRA) price has reached several of its targets since breaking out above the downtrend line. Additionally, if the support area at 1200 satoshis holds, we could see a movement towards 3000 satoshis occurring in the near future. Is the extremely steep current upward move sustainable? How much will the price increase if it does? Let us know in the comments below.

Upward Move

On November 20, the VRA price made a low of 307 satoshis. It began an upward move shortly afterward, and in a span of 11 days increased by a massive 505%, reaching a high of 1876 satoshis on December 1. The price has been decreasing on December 2, but the decrease has been contained within the body of the previous bullish candlestick. This suggests that the upward trend is still intact. VRA Increase

Future Movement

When zooming out slightly, we can see a minor support area at 1200 satoshis. Additionally, there is another very significant support area at 800 satoshis. Also, we can see the importance of the 1800 resistance area, which marked the top of the upward move in June 2019. VRA Trading Range Outlining a possible five-wave Elliott formation, we can find it likely that the price is currently in the fourth wave, which is corrective. Based on the length of the wave, the price can make a final fifth wave of at least 2800 satoshis, and possibly reach 4000 satoshis near the all-time high. VRA Final Wave To conclude, the VRA price has likely initiated an upward cycle. However, it has possibly finished the majority of it. After the current retracement comes to an end, we could see a final upward wave towards 2800 satoshis and above.
Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing...