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The price of Vero has increased by almost 60% in the last 24 hours and is now more than 300% in the past month. This movement also surpassed Zcash, one of the strongest private coins in this cycle. Vero, formerly known as Zycoin, is clearly riding the renewed momentum in the privacy coin space.
The main question now is whether this rally has run out of fuel, and whether Vero can realistically return to the $10+ area.
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The launch signal sets the tone for the growth of the FIRO currency
Vero broke up recently Of the flag pattern, which is a classic bullish continuation structure that forms when the price stops after a strong rise.
The column formed between October 31 and November 10, followed by a tight consolidation period from November 10 to 15. Then Vero broke on November 15, completing the model.
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Based on the forecast of the bar, the technical target is located near $8.49, assuming that the general market conditions remain supportive. with Privacy coins are getting strong inflows Across the board, Ferro has a realistic chance of reaching this stretch.
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The large flows of money and the strength of bulls and bears add strength to the movement
The refraction has strong support from size-based indicators. Vero’s cash flow ( CMF ) — an indicator that measures volume-weighted buying versus selling pressure — continued to increase during the consolidation period. CMF held firm even when Vero’s price was consolidating, indicating that Large bags were collected quietly During the decline.
Continue waiting for the breakout of the CMF upward trend line. The confirmation of a clear move above the upper CMF trend line will confirm a new wave of flows and support the next move of FIRO Coin towards the expected target. However, until the CMF breakthrough occurs, the FIRO price remains vulnerable to pullbacks.
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The strength index between the bulls and the bears also emphasized the strength. This indicator measures the distance between buying pressure and selling pressure. In the FIRO chart, the Strength Index between bulls and bears has risen to higher levels than those seen during the original poles, proving the strength behind this finding.
Both indicators agree that the increasing FIRO price may have more room to increase.
The price has arrived FIRO now boils down to two major barriers.
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- The first resistance is located at $6.01. A daily close above this level increases momentum.
- The next major resistance is at $8.18, just below the target drawn from the poles.
Passing both levels means the $8.49 forecast remains in play.
If the FIRO exceeds $8.49 (target projection), the next psychological and technical target becomes $10.35, indicating a return to the double-digit territory.
On the upside, a move below $3.00 weakens the structure, and a drop below $2.49 breaks it completely. These are the current trigger invalidation levels. This can only happen if the FIRO price declines deeper, due to big money leaving and not breaking the trend line we mentioned earlier.
