Venice Token (VVV) extended its rally with a 12% daily gain, bringing the price back to the $19 resistance level. The accumulation of whales on the network is also accelerating, while retail participation is also visible, adding weight to the current movement.
Price approaches resistance with momentum still intact
VVV did not reach this level – it climbed there gradually. This development has been steady, generally reflecting sustained demand rather than short-term speculation.
Now at $19, the price is testing a level that sellers have already stepped into, making it a natural point of hesitation.
However, so far there are few signs of an outright rejection. The price is holding near highs, which often indicates that buyers are not rushing to take profits.
Accumulation is not limited to just one side of the market
According to AMBCrypto analysis of on-chain data, whales are accumulating even more positions. This suggests an increased likelihood of a potential explosive move towards VVV’s all-time high.
At the same time, retail orders are also present in the current range. This kind of alignment doesn’t happen often.
In most cases, when large holders and small traders lean in the same direction, it tends to strengthen the movement, not only in terms of speed, but also in terms of stability.
The uptick in retail activity suggests the rally isn’t being driven by a single group, but retail traders are also in on the action.
Buyers absorb pressure on resistance
Holding near resistance without pulling back is usually a sign that selling pressure is being absorbed. Instead of triggering a reversal, the bid at this level is tested repeatedly.
Simply put, this development does not guarantee a breakout, but it does tip the scales slightly in favor of buyers. The market no longer reacts, it is urgent.
Breakout Potential Develops, But Confirmation Lies at $19
The structure is bullish, but the next move depends on what happens here. A clear push above $19 would likely open the way to the previous all-time high at $23.45.
If the level holds, a short break would not be surprising. Markets often consolidate before making a second attempt.
As it stands, the trend is still pointing upwards, but it is the level that decides whether the momentum turns into a continuation.
Final summary
- VVV tests resistance at $19 after 12% daily rise.
- Whale and retail accumulation suggests growing conviction behind the rally.
