Since launch on Kucoin just a week prior, VXV whales have been dumping and now it seems that VXV could be on it's way back up. This descending wedge has broken out on every timeframe up to the daily and looks like we could be in for some chop before it decides it's going back up. $18 to $8.50 in just one week has provided large holders opportunity to increase their stack with the additional liquidity, and they might be done accumulating at these lower levels. For now we
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VXV broke upwards from the triangle and has formed a nice descending arc of puke downwards. The lower trendline is still showing price action support but if lost and the $7.20 region does not hold, VXV will surely be in for more pain downwards.