Volt Inu is basically, a crypto project that was established and founded as an outcome of a meme, with the goal of driving growth in the crypto market.
The VOLT price structure is in a continuous downward trend from the $0.0000007000 level which is a supply region making lower highs and lower lows pattern on the chart and it is flawlessly following the downward wedge.
The current market price of VOLT is at $0.0000003303, which is below the major EMAs (20-Day and 50-Day). The EMAs are going downside as well, which confirms the downward side trend.
The VOLT price is also below the pivotal point, which is at $0.0000004000, which is a key level of resistance as well. Therefore, if the buying pressure rises, then the VOLT price could face an obstacle at $0.0000004600, which is the resistance 1st level of the pivot points.
On the other side, if the seller’s momentum surges seamlessly, then the VOLT asset could find support at $0.0000002600, which is the support (1st level) of the pivot points.
The VOLT asset price could also reach more below levels or stretch up to the demand zone if VOLT manages to break support (1st level), which is between the levels $0.0000002000 and $0.0000002400, where the buyer’s momentum could possibly re-enter the market.
Moreover, the MACD indicator is bearish in VOLT price and beneath the zero line as well, demonstrating that the seller’s control is greater. The MACD line is at -0.0000000077, and the signal line is at 0.0000000056. The histogram gap is also bearish, displaying that the downward trend momentum is more.
The 14 SMA is at 45.69, this highlights that the VOLT asset price is losing the heat and closing on the oversold zone. The RSI is also facing strong resistance from the 14-period smoothened simple moving average (SMA), which is at 39.23. This shows that the VOLT crypto price is facing difficulty in crossing the above SMA, which is a weak signal.
Summary
Technical analysis of the VOLT crypto asset on the daily chart suggests that the overall sentiment for VOLT is bearish on the chart.
The VOLT crypto price is expected to continue its downward side trend and even land on the support levels unless it breaks the closeby resistance levels on the chart and could turn the trend around.
Therefore, if the seller’s momentum surges seamlessly, then the VOLT asset could find support at $0.0000002600, which is the Support (1st level) of the pivot points.
Technical Levels
Support Levels: $0.0000002600
Resistance Levels: $0.0000004600
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
Source: https://www.thecoinrepublic.com/2024/01/25/volt-crypto-can-volt-price-decline-reach-lower-levels/