The recent price action for Vanar Chain (VANRY) on the 4-hour chart suggests a market that is searching for a bottom but hasn't quite found its footing yet. After a significant localized dip to the 0.004940 level, we saw a sharp "dead cat bounce" or relief rally that brought prices back above 0.006000.
Currently, the asset is trading at 0.006094, down 3.76% on the day. The SuperTrend indicator has recently flipped to green, providing a slim margin of support around 0.005792. However, the long-term trend remains overwhelmingly bearish, as evidenced by the staggering -86.13% drop over the past year.
Technical Outlook:
The volume spikes on the recent recovery suggest some buying interest at lower levels, but the price is struggling to maintain momentum. For a true bullish reversal, VANRY needs to break and hold above the previous local high near 0.006500. Until then, the price remains in a volatile "no-man's land" where further consolidation is the most likely outcome. Traders should keep a close eye on the 0.0057 support level; a break below that could lead to a retest of the recent lows. #vanar @Vanarchain