Posted: November 19, 2024

• VARA’s volume has risen by over 600% in the last 24 hours. 
• Its price has remained in the $0.03 range. 

In a remarkable move, Vara Network’s native token, VARA, has surged by 60% in the past 24 hours. This explosive rally has caught the attention of investors and traders, positioning Vara crypto as one of the standout performers in the market.

With heightened trading activity and strong technical momentum, its price action suggests further upside potential.

VARA breaks key resistance levels

Vara crypto’s price moved from $0.022 to $0.031 within the last 24 hours, driven by a surge in trading volume, which reached an impressive 132.36 million tokens.

The CoinMarketCap chart also highlighted a steep upward trajectory in market capitalization, with a clear breakout above the $0.025 resistance level. 

The market capitalization has risen by over 40% in the last 24 hours and is around $20 million as of this writing. This breakout signals a shift in market sentiment, with VARA entering a bullish phase.

The TradingView chart reveals key technical indicators backing this rally. The RSI currently sits at 76.52, indicating overbought conditions and affirming strong bullish momentum.

Meanwhile, the MACD histogram has expanded significantly, reflecting increased buying pressure. Also, on the smaller timeframe, VARA is close to seeing a Golden Cross, where its 50-day Simple Moving Average (SMA) crosses above the 200-day SMA.

Vara crypto sees trading volume surge

Vara crypto’s trading volume has soared to an all-time high of $12.71 million over the past week. The sharp increase in volume underscores strong market participation and validates the current uptrend. 

However, in the last few days, its social volume hasn’t had the same enthusiasm. Analysis of its social volume on Santiment showed that it has not gone beyond one in the last three days. 

Can Vara crypto maintain its momentum?

Looking ahead, VARA faces immediate resistance at $0.035, with the next major level at $0.040. On the downside, support levels at $0.028 and $0.025 could provide a safety net in case of a pullback.

 Realistic or not, here’s VARA market cap in BTC’s terms

If VARA can sustain its current momentum and break above $0.035, it could set the stage for a rally towards $0.050 in the coming weeks.

The “Golden Cross” formation and rising RSI suggest that VARA’s bullish trend is far from over. However, traders should remain cautious of higher-level profit-taking, which could lead to short-term volatility.