VIDT DAO Price Analysis: VIDT Gearing Up for a Massive Rally?


  • VIDT DAO currently trades near $0.41
  • VIDT DAO’s EMA(10) shows a upward trend.
  • VIDT’s intraday volume stands at $59,455.00.
  • VIDT faces medium-term resistance at $0.37.

29 February 2024 : In this article we will walk you through VIDT DAO price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for VIDT DAO, Is VIDT a good investment? VIDT DAO support & resistance levels etc. But before diving deep into the VIDT technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,243,507,521,539. The total trading volume stands at $156,919,584,896. Bitcoin shares 53.32 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $60,969.74 level after a decline of -0.41%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -0.72 percent reaching to $3,314.67 during the previous 24 hours.
While publishing this blog, BNB traded at $393.35, following a price change of -4.45%within the same time frame. SOL the native coin of Solana is up by 6.46 and currently trading at $123.40. Additionally, XRP reached $0.58 after seeing a uplift of 1.04% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

VIDT DAO Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of VIDT DAO (VIDT)

VIDT Resistance Levels VIDT Support Levels
Resistance Level 1 $0.31 Support Level 1 $0.21
Resistance Level 2 $0.37 Support Level 2 $0.16
Resistance Level 3 $0.42 Support Level 3 $0.10

VIDT DAO Performance

The current VIDT DAO price is $0.41, with a trading volume of $59,455.00 in the past 24-hours. Currently, VIDT is down by -25.23% since yesterday with a market capitalization of $319,313,950.00 USD.

VIDT DAO Price Analysis

VIDT price analysis for 29 February 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the VIDT DAO.

Moving Averages Price Indicator
Simple Moving Average (10) 0.25 Buy
Exponential Moving Average (10) 0.26 Buy
Simple Moving Average (20) 0.26 Buy
Exponential Moving Average (20) 0.26 Buy
Simple Moving Average (50) 0.27 Buy
Exponential Moving Average (50) 0.27 Buy

RSI implying consolidation phase while trading at 41 and is trying to break out of the neutrality zone. The VIDT/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. While VIDT’s Williams %R indicator is at -60.516 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

As of now, VIDT DAO is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the VIDT move into the positive zone. In 2022 and beyond, the VIDT DAO price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.