VSYS Continues Trading in a Total Downfall
By Lorenzo - 2019-10-20
The digital currency has been having a rough second half of the year, currently trading at $0.0608. The peak of $0.27 that was reached in August of this year, has signified the beginning of a huge downtrend for VSYS. The daily chart is clearly in a massive downtrend and the RSI has been overextended for over a month now. The cryptocurrency has been unable to see any sort of bounce after the recent market crash while most of the other top cryptocurrencies have. VSYS is currently trading below the 12-period EMA which has rejected the bulls several times over the last two weeks. The 4-hour chart is also in a massive downtrend and bulls have also been rejected several times from the 12-period EMA here.The RSI is also overextended, however, the bulls are unable to set any significant bounce. The weekly chart is also in a clear downtrend and the bulls would need a lot of work in order to change it. VSYS saw a peak of $0.317 the first week it started trading on Huobi and the bears crashed the price down to $0.0608, a -81% fall. VSYS is, however, trading higher than the initial price of $0.027 and according to CoinMarketCap, enjoys an overall ROI of 94% since its launch. There are a few good news for VSYS, though. Sunny King, inventor of the PoS protocol and founder of VSYS will make his first-ever public appearance in November at the CoinMarketCap Global Conference in Singapore. This is quite significant and could boost VSYS price, allowing the bulls to at least set an uptrend in the daily chart and perhaps recover its strength over the long-term.