VVV bulls defend the $13.994 line as Wintermute keeps its bags packed 🧳

Venice Token [VVV] traded at $13.41 at press time after an 11.32% decline over the prior 24 hours, even as 24-hour volume climbed 21.02% to $28.68 million. The move followed a 10% surge that pushed the token to $15.77 after buyers forced a breakout above a three-day consolidation range between $14.0 and $15.0. That consolidation formed after buyers defended the $13.994 support zone, where the MACD subsequently turned positive and confirmed renewed momentum.

Market maker Wintermute did not distribute into the rally. Data showed Wintermute did not use the surge in price to distribute out of position, with its sizing remaining intact even as price advanced. Large holders typically remove their risk when the price moves significantly higher, and the absence of trimming reduced sell-side pressure during the breakout. The behavior implies that key holders still expect further upside, although sustained demand will ultimately determine whether VVV can challenge resistance near $17.785 and eventually retest the $19.0 region.

Spot flow data, however, indicated continued exchange outflows during the latest decline. The latest reading showed net outflows of approximately $440,000, extending a broader pattern observed throughout recent months, with several larger outflow spikes recorded during May and June. Such activity reduces immediately available exchange supply and can indicate a preference for holding rather than selling, though the continued decline in price showed that outflows alone did not create sufficient buying demand.

CryptoQuant's Spot Volume Bubble Map showed that VVV remained within an overheated zone, with large clusters of elevated trading activity concentrated between roughly $15 and $20. Recent bubbles appeared smaller than those recorded near the peak, indicating that participation gradually cooled as the rally lost strength. At press time, VVV hovered near a critical support zone around $12.87, forming a potential triple-bottom pattern after multiple retests in recent weeks. Price action stayed below the 9-day ($14.72) and 21-day ($15.30) Moving Averages, reinforcing short-term bearish momentum and establishing those levels as immediate resistance. If buyers maintain control above $15.0, attention shifts toward $16.5 and then $17.785, where previous sellers emerged.