Venice Token [VVV] has experienced a 15% decline over the past day as top traders and whales intensify selling pressure on the asset. According to reports from AMBCrypto, the price movement reflects clear warning signs as the largest sellers are positioning for a deeper drop. The selling pressure comes from multiple sources, including Binance top trader accounts whose Long/Short Ratio has collapsed to 0.6, indicating sellers now control the market over the past 24 hours.
The whale-versus-retail dynamics have shifted significantly, with whales now dominating trading after the whale-retail delta climbed to 0.022, marking its highest reading in days. As reported by AMBCrypto, this represents a notable change from previous trading patterns. Binance commands the largest share of VVV volume among perpetual venues, handling $51.3 million worth according to CoinGlass data. The combination of whale selling pressure and retail traders leaning into the sell side threatens to drag prices lower, though overall volume has dropped 18% even as prices continue sliding.
Despite the selling pressure, technical indicators suggest potential for a rebound. According to AMBCrypto analysis, the Bollinger Bands point toward a likely outcome where sellers exhaust themselves soon and buyers seize control. The indicator's red upper band and blue lower band show VVV has dropped into the undervalued zone, which historically precedes strong rallies. On the last two occasions VVV dropped into this zone, it launched powerful rallies gaining more than 400% and 150% respectively.
Spot market data reinforces the bullish outlook, with spot netflow showing buyers in command at $824,960 in traded value over the past seven days. As reported by AMBCrypto, total purchases across this window reached approximately $15.66 million, demonstrating continued buyer confidence. The positive netflow indicates traders have bought more VVV on the spot market than they have sold, suggesting underlying demand remains strong despite current price weakness.
Community sentiment has begun to show weakening conviction in a rally, with the gauge declining from 84% to 79% over the past 24 hours. According to AMBCrypto analysis, this cooling mirrors conditions across the broader market. While the gauge still leans bullish, the decline in conviction from 84% to 79% represents a significant shift from previous levels. Unless the sentiment gauge slips below 50%, the prevailing read holds that a rebound remains firmly on the table, though current conditions suggest potential for continued volatility.
