Venice Token Price Dives 25% Amid Bitcoin's Pullback

The Venice Token (VVV) has dropped by 25% after reaching an all-time high of $34.60 in September, according to data from TradingView.

This decline is attributed to a brief pullback triggered by Bitcoin's drop from $87K to $82K.

A closer look at the chart reveals that the recent 20% drop seems incomplete as it hasn't touched the typical golden zone and reversal level at the 50%-61.8% Fibonacci level ($20-$22).

This support level also coincides with the 200-day Moving Average (MA) and the Fibonacci golden zone, further reinforcing its importance.