Venice Token (VVV) slid 11% in the latest session, pushing the cryptocurrency toward a key psychological level at $10. The decline comes as market activity shrinks and technical signals turn increasingly bearish.
Open Interest shrinks
Open Interest in VVV futures has been falling, a sign that traders are closing positions rather than adding new ones. When Open Interest drops alongside price, it often suggests that exiting bulls are driving the move rather than fresh short selling. That pattern can sometimes precede a stabilization, but it also reflects a lack of conviction from buyers.
Momentum indicators weaken
Several momentum gauges for VVV are now pointing lower. The Relative Strength Index has slipped below the neutral 50 level, and moving averages are flattening or turning down. These readings indicate that bearish sentiment is gaining traction, and any bounce may struggle to hold unless volume picks up.
What the $10 level means
The $10 mark has acted as both support and resistance in recent weeks. A clean break below it could open the door to further losses, while a hold might attract dip buyers. For now, the combination of falling Open Interest and weakening momentum suggests the path of least resistance is lower.
The next few sessions will show whether $10 holds or gives way. If it does, traders will be watching for the next floor — but no one is calling a bottom yet.
