Venice Token [VVV] rallied 4.46% in the last 24 hours, recovering from a difficult week that saw the privacy-first AI platform token decline 27% between October 5 and October 9. The recovery was accompanied by a 128% increase in trading volume compared to the previous day, according to CoinMarketCap data.
Open Interest on VVV climbed 8.5%, and spot cumulative volume delta (CVD) moved higher during the period. However, funding rates dipped into negative territory before reporting, suggesting an overcrowded short position in perpetuals markets.
Technical Structure Shows Mixed Signals
On the daily timeframe, VVV maintained a bullish swing structure, with a previous swing high broken in September that remained intact at the time of analysis. A daily close below $21.13 would signal a shift to bearish structure and mark the first warning sign of a downtrend.
Volume indicators painted a cautionary picture. The Accumulation/Distribution indicator hit multi-month lows, while the Chaikin Money Flow (CMF) remained in negative territory at -0.22 and has spent much of the past six months below zero. The Awesome Oscillator also fell below the zero line, confirming bearish momentum despite the bullish price action.
Resistance and Market Context
The $25 support level from September was broken earlier in October and retested as resistance in recent sessions. A bearish engulfing candle formed at this retest, signaling potential for a deeper price decline.
Market conditions weighed on altcoins as Bitcoin fell below $83,000, sparking short-term fear in broader altcoin markets. Sustained selling pressure across the market could shift Venice Token's technical structure bearish.
