VRA Breaks Descending Trendline Amid Bullish Sentiment

Verasity, a blockchain protocol utilizing the Proof-of-View (PoV) mechanism, has recently broken above a long-standing descending trendline, indicating a potential shift into a bull cycle for its native token, VRA. This development comes despite the prevailing bearish momentum and price fluctuations observed over the past few weeks. The 1-week chart reveals a clean breakout and a confirmed higher low, which strengthens the bullish structure of VRA.

According to crypto analyst Egrag Crypto, this move could mirror previous breakouts that have seen VRA rally as market sentiment tends to shift bullish. The analyst suggests that while VRA faces bearish pressure on lower timeframes, long-term investors might be slowly accumulating their coins, leading to the current breakout on the higher timeframe. This accumulation could be driven by investors "buying the dip" in anticipation of long-term gains, potentially fueling a sustained bull cycle.

The current bullish structure of VRA hints at a long-term bull cycle. As retail sentiment shifts, it could further strengthen VRA’s price recovery. Whales, noting the bullish macro-structure, might encourage retail investors to step in with high buying volumes in the coming weeks, accelerating the bull rally. Traders are closely monitoring the market for any steady changes in open interest and whale activity that could signal this shift.