VLX Price Analysis June 2022

VLX is a coin of platform Velas. Its current price is around $0.06126 by the time of writing, with a low of $0.03559, and its market cap is 141 million dollars.

What is Velas?

Velas is a cryptocurrency with a team dedicated to mathematical research, construction, and implementation of new products. They aim to make all their work open source. Velas have the fastest EVM chain to compete with Ethereum 2.0. Velas creates products on top of the blockchain that will allow anyone to experience the benefits of this technology. It has many partners, including BCVAULT, COINBROS, SOLANA, SPACECHAIN, and many others.

What is VLX?

VLX is the coin of the Velas platform, which is around $0.06126 by the time of writing, with a low of $0.03559. It reached a high of $0.572, and its current ranking is #168 according to CoinMarketCap, with a market cap of 141 million dollars. VLX is the native token of Velas, which mainly powers the network and acts as the payment currency for running programs /transactions.

VLX Coin Market Analysis 

VLX has a max supply of infinite coins worth around $0.06126 with a market volume of 4 million dollars. By writing, it is down by 2.3%, whereas the market capitalization is 141 million dollars at writing. 

VLX Price Prediction

Analyzing the data from five years of price forecasts indicates that Velas has an increase in projected value, so it should serve well as a potential investment.

On the 4H timeframe, the price action of $VLX/USDT has formed a descending triangle chart pattern. The price is testing out above the horizontal support zone. We have to wait for a successful breakout.

Descending Triangle Chart Pattern In Velas (Vxl) Price.
Descending Triangle Chart

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Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh

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