Venice Token price received buying pressure on the support level: Bullish rally in VVV coin soon?

At press time, Venice Token price was trading at $24.00 with an intraday gain of 16%. The 24-hour trading volume has increased by roughly 100% to $42.388M.
OI has increased by 23% to $45.683M in the past 6 hours which showcases that traders’ engagement has increased in VVV coin.
The funding rate was negative before the bullish rally began, as perpetuals started buying aggressively, the funding rate turned positive. A positive funding rate suggests that most of the perpetuals are buying and can lead the bullish trend.
When it comes to technical analysis, Venice Token price has bounced back sharply from a support zone of $21. Holding this zone could attract bulls which may result in a bullish trend. Few technical data are also favouring buyers’ dominance. Conversely, if the Venice Token price slips below this level and closes on a daily timeframe, sharp selling can be seen further.