Dec. 27 at 8:43 PM
$VG Price is trading around
$6.9–7.0, stabilizing after a prolonged downtrend, but still below all key Ichimoku trend levels, signaling that this is a basing attempt, not a confirmed reversal.
Price remains below Tenkan (~
$7.7) and Kijun (~
$11.9), which keeps the primary trend bearish. The recent bounce is corrective and lacks structural confirmation.
The cloud is firmly bearish and overhead, with a wide, descending Kumo — meaning any upside is likely to face heavy resistance unless momentum expands meaningfully.
The 200W EMA / long-term mean has already failed, and price is now consolidating well below it, reinforcing that this is a post-distribution, late-stage downtrend rather than a pullback within an uptrend.
