Could $VRA be the next $THETA? | Veracity $VRA Crypto Price Prediction and Analysis 2021

What's up everybody, welcome back to The Art Of Crypto, the birthplace of absolutely legendary gains. In this video, we will be taking a look at Verasity USDT on KuCoin. So this will be a smaller cap altcoin, and this was requested by the people who voted on my Twitter when I asked, pick any coin to do an analysis on. So if you want to stand a chance for me to do an analysis on your favorite coin, I want you to go follow me on Twitter at _TheArtOfCrypto. You will thank yourself for it. But anyways, let's get right into VRA/USDC. So right off the bat, on the daily chart, it definitely does not look the prettiest because it has been in an extended period of green money flow. In fact, this thing, if I'm not seeing wrong, went up by 140x in the last 66 days, which is absolutely crazy. Wow, okay, I'm— this is actually my first time looking at this chart and I'm honestly, I'm honestly surprised. Ah, but yeah, I digress. So, so far we have had a 50% drop, and it definitely isn't looking pretty from a money flow standpoint, where the money flow is confidently flowing into the red. But on the bright side, you can see that the stochastic RSI on Market Cipher has been pretty reset. The VWAP is slowly but surely curving upwards, so we might see a clip of this wave on the daily chart right now. But nothing is confirmed until it is confirmed, so let's go on to the 4-hourly chart to get a clearer picture. And over here, it looks better than it does on the daily chart. So right off the bat, on these 2 candles specifically right here where the price dumped by 13%, that was actually market manipulation. Now, the reason why I like Market Cipher so much and why I believe in it wholeheartedly is because of this yellow X right here, which is an indication of market manipulation. And oftentimes, you'll find that whenever a yellow X pops up, the market tends to dump immediately afterwards. And to make things worse, usually you do not get yellow Xs on any timeframe higher than, say, the 1-hourly. You really don't get yellow Xs on the higher timeframes. So when you do get them, it is serious. Like, you better pay attention. But anyways, I digress. So at the moment, it seems to me that we have found a bottom. On the four-hourly market cipher, and we sort of have a bearish pennant going on right now. So usually any pennants, whether it be a bull pennant or a bear pennant, it is usually a continuation pattern, which means that in a bullish case, if we form a pennant, then the price usually breaks upwards. See continuation to the upside because the trend was already going up, but. In a bear pennant, usually they break towards the downside because this is a continuation pattern. But here's the beauty of having Market Cipher as your primary indicator: you will know what the price is going to do before it does it. And at the moment, on the four-hourly chart, we have found repeated multiple bottoms. And usually when we form an anchor wave and a trigger wave, the momentum is starting to shift upwards. So I wouldn't worry too much if I was holding Veracity. In fact, I would attempt to get into VRA myself. Right now, but I do not dabble in low-cap altcoins that much, so personally I wouldn't do it. But if you wanted to do it, you could. But before you buy Verasity, hear me out. Let's do more of an in-depth analysis. Right now, this is my first time taking a look at it. I'm looking at it in real time with you guys. So let's identify some further support lines before we decide if we want to buy this in case it drops even more. So at the moment, for hourly, this is what I'm expecting to happen. As long as momentum is going up, it doesn't matter if there are small dips, as long as momentum is going up. So what do I expect the price to do right now? If it breaks out of this bear pennant and comes down for a retest, that would be a prime entry. It means that the bulls have caught wind of this pennant and they are refusing to let the price fall back into the pattern. So that would be your golden entry because you can set your stop right inside the pattern. And if it does break back into the pattern, then you know you are screwed. Your trade would be invalidated. So just get out with a small loss, which is why it's important to practice proper risk management so that you do not get wrecked on any single losing trade. But anyways, if the price were to break out of this pennant right now, I would expect it to get rejected off of this purple line right here, which is a 4-hourly 200-period exponential moving average, which if you are a longtime subscriber of this channel, you know that I always like to say, It is a strong dynamic support and resistance in any trend. So fully expect the price to get rejected by the 200 EMA. But even though we might get rejected, I wouldn't lose hope because I'm not saying that the price is just gonna absolutely dump even more. What I'm saying is it'll get rejected and probably come back down to this trendline before ultimately breaking up higher and holding the 200 EMA. And that would be the ideal scenario. In fact, if you miss this breakout right here, you want to buy the retest, Retests are safe, very safe entries because stop loss right below. And if you miss the retest, you wanna buy the retest of the 200-period exponential moving average because that is pretty safe too. You can just set your stop loss right below the EMA and the price should go from there. So right now, even though there might be short, short little dips, for example on this 12%, I wouldn't worry because momentum clearly looks to be shifting towards the upside. And if we get a clip on the daily chart right now, 100%, I see this going back up to, who knows, the 0.358 level, perhaps even more. So now that we know how to enter Verasity and whether or not we should enter, let us do another deep dive on some profit-taking targets as well as support levels, because we wanna know how low Verasity might go. So if I just go onto the daily chart, And draw a Fibonacci retracement from swing top to swing low, we can see that this level right here, I would expect to hold very strongly as support because usually you are not going to get a full retrace back down to the zero level. And if we do, that is a very— let's just say that that would be considered an anomaly. But usually the 236 level will hold as a final line of support, and I wouldn't expect the price to go any lower than this. But it's a small cap altcoin, so I cannot be sure. So if the price does come back down to this level, I would dollar cost average in for sure. And if it does drop, I don't expect it to drop much lower because the 100-day exponential moving average is right below this level. So I would call the 100-day exponential moving average as the bottom if it does decide to dump again. But I am definitely biased towards the upside simply because of the momentum shift on the 4-hourly as well as the momentum shift on the 1-hourly. Because if you see, the price is consistently going up. The momentum rather is consistently going up. So at the moment, it seems that we are having a trend reversal on Market Cipher right now. So this would be strong, strong support. And by the way, if you're liking this video so far, it would help me so much if you could just pump the like button to the moon, right? It's a small gesture, but it really, really helps a lot. Besides that, if you want me to do an analysis on your favorite coin, I want you to go into the comment section and comment down below. What coin you want me to do an analysis on? If this video gets 100 likes, I will pick the most liked comment and I will do an analysis on that coin. But anyways, let's get back into the video. So if this breaks to the upside right now, if this breaks above this level and comes back down for the retest, that would be your entry. So immediate levels of profit taking. So as I like to always say, I want you to go onto your own chart and identify areas where the price seem to react to a lot. So. Immediately, this is one of them where the price found support. One, two, three, four, five, six, seven, eight, nine, ten, eleven. That's a lot of times price finds support at this level. So previous support becomes future resistance, and vice versa. Previous resistance becomes future support. So just now on this level right here, that was a resistance. So if the price were to break above this resistance, I would expect it to become support. And if you just take a closer look at this level that I've drawn out for you right here, it is actually in line with the 200-period exponential moving average on the 4-hourly, which means there is a very, very high likelihood that the price is going to get rejected off of there. So I would 100% like you to take some profits off the table, maybe 25%, maybe 50%, depends on the market conditions. So for me, major levels of resistance would definitely look something like this. So feel free to mark these targets on your chart. I would definitely take profits on most of these levels, maybe 25 here, 25 here, 25 here, and 25 here. It depends on your goals and how long-term you want to be. If you just want to flip your profits and get out, even if the price were to come back up to this level right here, it would already be a 50% gain, and I'm sure most people would be happy with that. But with that said, remember momentum is shifting up, but if there happens to be a black swan event, then everything is going to get screwed. I don't care if you are Veracity or Telcoin or AVAX or Bitcoin, everything will So just look out for that. Market conditions ain't pretty right now, so exercise proper risk management. Go in with smaller position sizes and remember to take your profits quickly before somebody else takes it from you. So feel free to mark these levels on your chart. These would be the profit-taking targets, and this would be— and this would be a very strong level of support if we were to break down from here. And I would definitely buy VRA at this level if we get there. But if not, I will buy the breakout and retest of this level right here at $0.0306, and that would be a golden entry point. Golden, beautiful, beautiful entry. 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Grab your spot before somebody else takes it from you, and I look forward to seeing you inside the group. And as usual, may the gains be with you, and peace.