Verasity (VRA) plummets after massive December correction – should you buy this dip?

The terms enactment for Verasity (VRA) for the astir portion of December and November has been bearish. After making a monolithic 240% rally successful October, hitting highs of $0.876, the token entered a wide correction phase. It plunged to astir $0.031, possibly 1 of the astir devastating corrections we saw this month. Here are immoderate notable highlights:

• Verasity (VRA) has rather virtually been connected free-fall aft hitting monthly highs successful October, but it's consolidating astir $0.031.

• At the clip of penning this article, VRA was selling astatine 0.038, down 4% successful intraday trading.

• The coin is seeing a crisp summation successful purchaser request astir the $0.031 support, suggesting a rally is likely.

Data Source: Tradingview.com 

Verasity (VRA) – terms enactment and predictions

Despite consolidating astir $0.031, we person not seen immoderate large breakout from VRA. Most of this week, the coin was investigating the $0.04 absorption but is yet to interruption done and prolong gains supra it. 

Data from Coinmarketcap.com besides shows that 24-hour trading measurement has tanked by astir 30%. This could suggest that buyers are watching to spot if an uptrend tin instrumentality VRA supra $0.04 earlier they enter. 

The bully quality is that the regular Relative Strength Index (RSI) is showing immoderate recovery. At the clip of writing, it was hovering astir 47. It would beryllium absorbing to spot however the terms enactment volition make if RSI shoots supra 50. But sadly, VRA is inactive beneath the 200-day EMA and volition request to surge beyond that if immoderate agelong rally is seen.

Should you bargain Verasity (VRA) today?

Well, determination is evidently a immense dip here. In fact, it tin easy beryllium argued that VRA has yet deed stone bottom. This means that downside risks are comparatively lower. But determination is inactive a batch of upward absorption to the price. It volition instrumentality a spot longer for immoderate bullish momentum to instrumentality hold. So, for semipermanent buys, VRA is simply a bully choice.