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Should you buy Verasity after the sharp correction on Sunday

After hitting a new all-time high earlier this week Verasity (VRA/USD) has fallen by over 20%, this is still a relatively small correction compared to the 182% surge in price in October. Vra is now at a very crucial support and could be a great buy as it can reverse any time now.

  • After a sharp correction of over 20%, VRA is now at a strong demand zone and it could give a reversal very soon.

  • VRA has formed several hammers on the support which is indicating a strong reversal as the buyers are slowly returning.

  • VRA also closed in the green on Saturday, thus showing that a reversal is very close.

  • The RSI is in the extremely oversold zone and has also given a bullish cross, suggesting that some buying will be now.

  • Investors must be cautious with the zone at $0.07 as if VRA breaks this zone long entries should not be taken as VRA is looking weak below the demand zone at $0.07.

  • VRA Should hit a new high after the reversal however investors must keep a stop loss below the zone of $0.07.

Conclusion

VRA is looking like a great buy and a reversal should be seen very soon, however VRA is a volatile coin thus investors must be cautious and must keep a stop loss below the zone.

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