Venice Token [VVV] experienced a significant 11.32% decline to $13.41 over the last 24 hours, despite trading volume climbing 21.02% to $28.68 million, as reported by AMBCrypto. This highlights growing activity during the token's price decline, with increased participation failing to stabilize price action as sellers maintained control throughout the session. Recent candles pushed VVV closer to an important support area that has attracted buyers several times before, though the market did not translate increased liquidity into sustained demand.
At the time of analysis, VVV hovered near a critical support zone around $12.87, forming a potential triple-bottom pattern after multiple retests in recent weeks, according to AMBCrypto reports. This level remains pivotal, as repeated defenses suggest underlying demand, though confirmation requires a sustained bounce. Price action stayed below both the 9-day ($14.72) and 21-day ($15.30) Moving Averages, reinforcing short-term bearish momentum and establishing these levels as immediate resistance. The MACD further supports this outlook, with the MACD line below the signal line and both positioned under the zero mark, while the histogram printed consistent negative values, indicating continued downside pressure.
Despite the double-digit daily decline, spot flow data revealed that VVV continued leaving exchanges with net outflows of approximately $440,000, extending a broader pattern that emerged throughout recent months, as reported by AMBCrypto. Several larger outflow spikes also appeared during May and June, reflecting consistent token movement away from trading platforms. Such activity often reduces immediately available exchange supply and can indicate a preference for holding rather than selling, though the continued decline showed that outflows alone did not create sufficient buying demand. The persistent withdrawal trend suggested that some market participants retained confidence in VVV despite the ongoing weakness and heightened market uncertainty.
CryptoQuant's Spot Volume Bubble Map showed that VVV remained within an overheated zone as of writing, after months of aggressive price appreciation, according to AMBCrypto reports. Large clusters of elevated trading activity emerged when the token traded between roughly $15 and $20, with recent bubbles appearing smaller than those recorded near the peak, indicating that participation gradually cooled as the rally lost strength. Price also retreated from the overheated region toward lower levels where demand previously emerged, with the latest readings pointing to moderation rather than renewed acceleration. Market participants appeared more focused on preserving capital than aggressively pursuing higher prices, with a successful hold above $12.87 potentially triggering a recovery toward $15.76, while a breakdown would invalidate the pattern and likely accelerate losses toward lower support zones.
