Why traders should remain wary despite Venice Token’s weekend relief rally

AMBCrypto2026/10/12 18:03

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Venice Token [VVV] rallied by 4.46% in the last 24 hours. The privacy-first AI platform token faced a 27% drawdown from Monday, 5th October, to Friday, 9th October.

Coming off the back of such a tough week, the recent VVV gains were commendable. In fact, according to CoinMarketCap, the last 24 hours’ trading volume was 128% higher than the previous day’s.

The Open Interest behind VVV was up 8.5%, and the Spot CVD has been in a steady move higher. The Spot and perpetuals demand could be an encouraging sight. However, funding rates dipped into negative territory before press time hours to signal a slightly overcrowded short trade.

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Venice Token’s outlook for the rest of October

On the daily timeframe, the swing structure was bullish. The previous swing high was broken in September to re-establish the bullish structure. This was intact, even at the time of writing, despite the previous week’s correction.

A daily session close below $21.13 will shift the structure bearishly and be the first warning sign of a downtrend. The technical indicators were already warning of a downtrend though.

The A/D indicator continued to slump lower, making multi-month lows. The CMF was at -0.22 and has been in negative territory for a good chunk of the past six months. Together, the two volume indicators highlighted the steady selling pressure on Venice Token despite its bullish price structure.

The pullback towards $21.13 also forced the Awesome Oscillator below the zero line to confirm that bearish momentum was prevalent.

Can VVV bulls fight back against the selling?

The $25-support level from September was broken earlier this month and was retested as resistance in recent hours. This retest was followed by a bearish engulfing candle, signaling that there was potential for a deeper price slide.

At the time of writing, Bitcoin’s [BTC] price had slid below $83K, sparking short-term altcoin market fear. Sustained market-wide selling will shift the Venice Token’s structure bearishly.

Final Summary

Venice Token had a bullish price structure on the 1-day chart.
Structure was precariously perched as volume indicators warned of steady selling pressure.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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According to Freddie Mac data, the 30-year fixed mortgage rate has risen to 7.4%, the highest level in nearly three years. Data from real estate brokerage Redfin shows that the volume of existing home pending sales in September fell 4% month-on-month, marking the largest single-month drop in over three years and hitting the lowest level since 2014. Nearly one-fifth of sellers have reduced prices, and the home purchase contract cancellation rate has reached a record high of 14.5%. Inventory levels have risen to the highest since March 2020, but high financing costs continue to constrain transactions.

华尔街见闻•2026/10/12 20:41