Velas Price Prediction- Will VLX's Price Hit $0.55 in 2022?
Transactions within the Velas (VLX) network is very low when compared to other blockchains like Ethereum and Bitcoin. Velas is Ethereum Virtual Machine (EVM) enabled. This gives it the capacity to allow decentralized applications to be built on it.
Present and Past Status of Velas (VLX)
In the last 24 hours, the price of Velas (VLX) has increased by 31.55%. The current price of Velas at the time of writing is $0.2003. This is due to the increase in VLX trading volume from $11,718,111 on April 28th to $20,046,859 presently. This represents 154.69% in the past 24 hours.
Within seven days, the price of Velas (VLX) opened at a price of $0.1811 on April 23rd and is presently trading at $0.2003. This represents 10.6% increase. This is due to the increase in VLX trading volume from $7,871,159 on April 23rd to $20,046,859 presently. This represents 154.69% in the last 7 days.
Comparison of Velas with Bitcoin
Source: https://www.tradingview.com/x/CtdJxbyB/
From the chart above, we can observe that Velax (VLX) has gained in recent days while Bitcoin (BTC) went dip. According to information available in CoinGecko, VLX has gained 15.4% in the past 7 days while BTC price has reduced by 3.7% within the same duration. Hence, it would have been more profitable to invest in Velas than Bitcoin within the past week.
Price Analysis of Velas from Different Indicators
Source: https://www.tradingview.com/x/5E0yXyYt/
The chart above represents the accumulation/distribution indicator (A/D) for Velas/Tether. A/D is used to determine the relationship between the price of a coin and the volume of trades. Since, the price of Velas is moving in the same direction as the volume of trades indicated by the indicator- it means that buyers are having their way. This can lead to further increase in the price of Velas (VLX).
Source: https://www.tradingview.com/x/Og0gm3QE/
The chart above represents the 60MA and 30-MA for VLX/USDT. Both indicators are touching the present candlestick, and the 60-MA is below the 30-MA. This signifies a bullish run in price for Velas soon.
https://www.tradingview.com/x/UzUtAPnD/
The chart above represents the Williams Alligator indicator for VLX/USDT. It is used to determine the trend direction. The blue, red, and green lines represent the jaw, lips, and teeth respectively. Since the teeth is almost below the present candlestick formed, it means that we should expect a strong bullish run soon.
Recent Candlestick Interpretation
Source: https://www.tradingview.com/x/h6tovoc6/
From the chart above, the present candlestick is a bullish Marabozu. This signifies that buyers are having their way. Since, this follows a bullish candlestick after a downtrend, investors that are patient will benefit from another price surge in coming days.
Key levels Price Prediction for Velas
Source: https://www.tradingview.com/x/w0PeHqKV/
The chart above represents the resistance and support levels of VLX/USDT on a 1Day Chart. The following can be deduced from it:
Tradeview Technicals Deduction on Velas
Source: https://www.tradingview.com/symbols/VLXUSD/technicals/
From the link above, we can deduce that 14 out of the 27 indicators considered shows sell. Nine and three indicators represent neutral and buy respectively.
Market Sentiments on Velas (VLX) Price
Price prediction
According to Price prediction, the price of Velas (VLX) would reach a minimum and maximum price of $0.29 and $0.34 in 2022 respectively.
DigitalCoinprice
According to Digitalcoinprice, the price of Velas will reach a minimum and maximum price of $0.26 and $0.29 in 2022 respectively.
Our Price Prediction for Velas in 2022
From the key level chart above, the price of Velas (VLX) will reach a maximum price between $0.30 and $0.55 in 2022 and a minimum price of $0.12 in 2022.
Conclusion
Considering the recent data on Velas, and its gain over Bitcoin in recent days, long-term investors of Velas will surely have a better returns on their investment than investing on Bitcoin.