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VeChain

VET Price Analysis: SMA-20 at $0.1050 might act as a crucial support zone.

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VET coin is entertained by the external market from $0.880 which as a result broke out to the level of $0.1107 and marked it as the high of till August and July. The coin was  facing a tough time in the July month and in August has been pushing past an important ceiling that has acted as a rigid breaker in its growth. 

However, crossing the past barriers, VET has crossed the path of the barrier and has shown the explosive upswing.  Along with other coins, VET demand went immensely high in the past week. The token has formed the pattern of engulfing bearish recently. 

The token’s price slipped through the $0.0900 support level on 2 July and turned it into a major resistance level. Since this point VET has tried climbing multiple times and faced negative response every time. At the time when other altcoins were seeing minor rallies, this coin has been trying to gather some pace.  It was on 24 July the token has shown its rally and till date the retracement is continuing

VET rose by 8.20% on Monday. Following a 5.60% gain from Sunday, VET ended the day at 0.106. The last known price of this coin is 0.1044. A mixed start for the day saw VET rise to an early morning intraday high of $0.1075 before hitting reverse. 

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VET seems to trail close to its first support level at $0.104896, and might acquire support through it. Although there are possibilities, the token could seek to acquire support from the second support zone at $0.104618. 

At the time of writing, VET was up by 4.26% to 0.104300.

It has the current trading volume(s) of 856,365,507 with a fall of 0.74% over the last 24 hours. VET has total accounts of 1,176,936 holders with the authority nodes of 101 and economic nodes of 2.286 in the last 24 hours. 

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The circulating supply of token is  64,315,576,989 VET coins and a max. supply of 86,712,634,466 VET coins. The total supply (The amount of coins that have been already created, minus any coins that have been burned. It is analogous to the outstanding shares in the stock market.) is 86,712,634,466.

SMA-20, SMA-50 and SMA-200

The chart above shows the movement of Doge where 200 DMA has been running below SMA-20 and SMA-50. SMA-50 is running below to SMA-20. 

It is SMA-20 which is  above SMA-50 and SMA-200. We see the token with respect to SMA’s which are 20, 50 and 200. The candles forming now are sinking and so it would be fine to sell the token and purchase it after sometime.

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We see the gradual returns here, marked under the trendline. The returns are formed at the time of writing to 15%.

Maximum returns acquired, if bought the token at 0.8500 and sold at 0.1100.

The pattern formed on a 4 hours period chart is slightly upwards and the trend line marked shows this upwards shifting.  

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BUY or SELL?

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 49.977 and marks the neutral action. 

MA-5 which shows the sell action, MA-10, MA-20 shows the sell action also whereas MA-100 and MA-200 show the buy action. 

The bull/bear power has the value of  -0.0003 and shows the sell action. The high/low marks the sell action with the value of -0.0002.

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The VET-BTC pair is trailing at the level of 0.00000228 and the loss of 0.06% was seen whereas the VET-ETH pair is at 0.00003349 and the high of 0.05% was seen in the last 24 hours. The volume/market cap of the token is 0.1276 and its market dominance is 0.36%.

Conclusion:   Two days back the candles of VET had gained support from SMA-20 at $0.0992 and touched $0.1075. However, in recent times the candles again fell and are sustaining at SMA-20, we can expect a retracement here again.

The day’s range for the coin is 0.097980 – 0.107800. The VET ATH is 0.2782 and ATL is 0.001678. 

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VET ROI (approximate return on investment if purchased at the time of launch) is 593.88%. 

Technical Instruments:

Pivot: 0.105347

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R-1  : 0.105798

R-2  : 0.106076

S-1  : 0.104896

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S-2  : 0.104618

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour

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VeChain

VeChain coiled and ready to break out to $0.21

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  • VeChain price develops a trifecta of bullish breakout conditions pointing to a substantial drive higher.
  • VeChain is likely to become a leader in the altcoin market.
  • Limited immediate downside risks for VeChain exist.

VeChain price is positioned for a massive bear trap, which would yield a spike of over 80%. The $0.002/3-box Point and Figure chart show why a breakout above $0.126 could initiate a flash-spike higher.

VeChain price is ready to pop, shattering any hopes of existing and future short-sellers

VeChain price has a rare combination of three powerfully bullish signals on its Point and Figure chart. And all three signals are considered authentic or confirmed if VeChain hits the entry of the hypothetical long setup. The three signals are as follows:

  1. An entry at $0.128 confirms an ascending triple-top breakout.
  2. An entry at $0.128 confirms a Bear Trap Point and Figure pattern.
  3. An entry at $0.1280 breaks the dominant bear market angle and converts VeChain into a bull market.

It is rare to have such a substantial collection of bullish reversal signals present at the same price level. Because of these three signals, they exacerbate the projected profit target from the Vertical Profit Target Method. Consequently, the profit target of $0.21 is just a hair below the 100% Fibonacci expansion at $0.212.

The theoretical long entry is a buy stop order at $0.128, a stop loss at $0.120, and a profit target at $0.21. The long trade idea is invalidated if VeChain price moves below the $0.106 value area.

VET/USDT $0.002/3-box Reversal Point and Figure Chart

If any weakness over the weekend (which is always a possibility during the weekend trading sessions), the downside risk should be limited to the 38.2% Fibonacci retracement at $0.072.

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VeChain

VeChain price eyes 20% upswing as VET bounces off the buy zone

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  • VeChain price successfully tested the buy zone, extending from $0.097 to $0.11, triggering an uptrend.
  • A decisive close above $0.12 will confirm a rally and propel VET by 20% to $0.146.
  • A daily close below $0.095 will invalidate the bullish thesis by creating a lower low.

VeChain price has been on a downtrend for the past three weeks and is showing signs of a reversal. Clearing a crucial barrier that VET is currently grappling with will confirm the start of this uptrend.

VeChain price to reclaim old highs

VeChain price dropped 44% from $0.18 to $0.10 between November 9 and November 28. This correction pushed VET straight into the buy zone, stretching from $0.097 to $0.11. This area is where high probability reversals occur, and as seen, VeChain price has already rallied 16% to where it currently trades – $0.12.

As VET hovers around the 50% retracement level at $0.12, market participants should wait for a daily close above it to enter long. This move will help solidify the upswing and trigger a 20% ascent to $0.146.

Clearing this level with enough buying pressure to spare will see VeChain price make a run for the range high at $0.16. In some cases, VET could sweep the swing highs at $0.17 and $0.18 to collect liquidity resting above them.

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Therefore, investors can expect anywhere between a 20% to 30% upswing for VET.

VET/USDT 12-hour chart

VET/USDT 12-hour chart

While things are looking decent for VeChain price, a retracement to $0.10 or $0.097 on VET would provide investors with another buying opportunity. 

However, if VeChain price produces a daily close below the range low at $0.081, it will invalidate the bullish thesis.

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VeChain

‘VeChain Thorsday’ on 2 Dec, 2021 VeChain (VET) Grows and Attracts the Attention

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VeChain Foundation Expressed:  We are excited to introduce VeChain Thorsday! Each Thursday, we’ll be hosting projects built on VeChainThor over on our Discord channel. Tune in weekly to hear what’s happening, meet the community and win prizes! Keep your eyes peeled for our first session, coming soon.

Love Metaverse, NFTs & GameFi? Join the first ‘VeChain Thorsday’ on 2 Dec. at 8PM UTC & begin exploring projects built on VeChain.

Community Reaction:  How about you take one of these days and explain how you need to sell 1.3 billion vet a quarter to pay for ongoing business expenses.

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It makes sense, as VeChain grows and attracts the attention of more enterprises and governments, they really can’t have individual team members getting into it with Twitter personalities. All communication needs to be streamlined, appropriate and well timed.

Could some supply of the currency be burned in the near future and be in more exchanges?

Just tell me how VET token is going to get advantage of all your partnership?  Growth, if you read the white paper. It tells you everything you need to know.

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What are VET’s plans for 2022? Recently, VET has been sideways and there is no latest dynamic.

This is exactly what we need, more activity in the networks.  It is time that we give it the importance that this great project really has, I hope that this year 2022 we will continue to see more activity with VET. I keep holding on until the end.

Always someone complaining, always something to complain about. Buy the coins with puppies and bunnies. Another good step for VET.

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Very promising I liked the concept of the project but there has been very little communication from the team.

I rather see enterprise adoption then hype tweets. So, far no other blockchain tech companies that have the type of growth then VeChain, but I understand your opinion.

Not looking for hype tweets, however, VET governance is a public process, at least for now (voting for mainnet updates, gas fees). What happens if they lose public support and can’t get important updates passed? Better to start re-shaping public perception sooner than later

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This is a brilliant idea for more community participation and for everyone to get familiarised with projects built on VeChain.

VET runs POA, calls themselves an enterprise platform – has no major announcements, starts dipping into NFTs (crappy ones), Now Metaverse, and Sunny says Vechain 3.0 is DAO? Is this why Vechain foundation has been selling for Op costs? wheres the focus?

Is it going to benefit VET token? No? What a crypto?

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You guys really need to hire an experienced community relations person.

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