Just looking at this +6.19% bullish candle, I wouldn’t rush to say the $VVV trend has returned. This instinct needs to be validated with two data points: first, whether the volume can continue to stay above $20M; second, whether the price can hold above $14 for more than three days.
The truly notable change on the chart happened on August 18. In the prior nearly month, $VVV had mostly been base-building between $11.3 and $12.7. Even on August 17, volume had shrunk to a low of $4.61M. Then suddenly, it surged on expanded volume to $13.30. After that, volume stayed above $20M for the next two days.
The 7-day and 30-day gains are both 27%, which means this week consumed the price increase from the past month—suggesting the capital inflow was quite concentrated.
What I care about even more is its position: the market cap is $695M, ranking #87, which indicates the market is already valuing it as a mainstream asset. But it’s still 35% away from its ATH of $22.58. That means there are trapped-holder shares overhead, and it won’t be easy to push through just with a casual rally.
Over the past 30 days, there has also been at least one day with volume release above $30M (for example, July 22). Yet afterward, the price still pulled back. So the “accumulation at low levels” theory may be plausible, but the confirmation signal hasn’t shown up yet.
My view is valid only if, over the next two or three days, volume does not retreat below $10M and the pullback does not break $13.5. If it falls back on lighter volume, then this will be another cycle of low-volume, low-price action. Would you rather treat it as bottom confirmation, or wait until it reclaims $14.5 to discuss the trend?
The truly notable change on the chart happened on August 18. In the prior nearly month, $VVV had mostly been base-building between $11.3 and $12.7. Even on August 17, volume had shrunk to a low of $4.61M. Then suddenly, it surged on expanded volume to $13.30. After that, volume stayed above $20M for the next two days.
The 7-day and 30-day gains are both 27%, which means this week consumed the price increase from the past month—suggesting the capital inflow was quite concentrated.
What I care about even more is its position: the market cap is $695M, ranking #87, which indicates the market is already valuing it as a mainstream asset. But it’s still 35% away from its ATH of $22.58. That means there are trapped-holder shares overhead, and it won’t be easy to push through just with a casual rally.
Over the past 30 days, there has also been at least one day with volume release above $30M (for example, July 22). Yet afterward, the price still pulled back. So the “accumulation at low levels” theory may be plausible, but the confirmation signal hasn’t shown up yet.
My view is valid only if, over the next two or three days, volume does not retreat below $10M and the pullback does not break $13.5. If it falls back on lighter volume, then this will be another cycle of low-volume, low-price action. Would you rather treat it as bottom confirmation, or wait until it reclaims $14.5 to discuss the trend?