As you can see VET broke out of a downtrend. It will take some time to go up again to levels where he was before. First of all I want to show the uptrend that is going on. Trendline straight up. ALso the EMA is showing some positive sings.
A: most likely it will go this path (no financial advice). B: if A doesn't work out immediately and it receives some resistance it will bounce a little in this area and then break out. C: total rejection and it will go to lower resistance lines again D: bullrun scenario when BTC goes down and Altcoins will boom.
All indicators show VET will rise long term. But besides that there are many other reasons. VET has a lot of big plans going on in 2021 and 2020 was also a beautiful year for them.
My personal outcome for VET in bullrun after BTC dominance goes down: it will get to 0.4$, possible to max 1$.
Why not +1$? calculate yourself, supply x price = market cap from +1T, is impossible.
Feel free to comment, add or question. These are also my first releases on tradingview and I'm still learning a lot.
Thanks for reading and please leave a comment/your view about VET!
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Short term the trend
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only +35% is needed to beat the ATH for Vet and there will be no resistance. My personal targets; starting 0.4$ till 1$
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Fib retracement
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VET stagnated and did not gain this much this weekend
VTHO will go up fast, and many companies and investors will hold significant amount of vet — running nodes to produce VTHO. And for many investors and off course new investors staking is the better option than a day trading. So! Only this will push VET higher than 0.4$, and I think higher than 1$.
lolski006
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@Ky8, I sure do hope so, but the problem is mostly everyone "hyping" vet to 1$ and everyone start to belive (in my eyes) that 1$ is easy, but if you start checking with all the tools and indicators im still gonna be happy with 0.4$ and that wont change that fast also in my opinion but lets indeed hope 1$; and i can retire haha
Elsimsim
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Are you expecting a slight correction to 0.016100? I was trading in that range and trying to figure out if I should just cut my losses or be patient
lolski006
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@Elsimsim, So far I dont see any correction, uptrend channel, trend is your friend and my friend is going straight up :)
Tighand222
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Realistic analysis. I'm definitely bullish on VET. But, far as not likely to go above a dollar based on "market cap" think about the global supply chain market cap. In the trillions. If vechain manages to capture even 5% of that market, well my friend, the math speaks for itself.
lolski006
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@Tighand222, thanks for the reply. Like you said, it could go above 1$ for sure, but not within a year, in my opinion. In 5 years i can believe that for sure, and it will be +1$ for sure, but till 2022 i dont see +1.5$, even tho I hope I'm wrong and it will happen haha. I've even seen predictions of 50/vet in a year, people are really bulish on VET.
Tighand222
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@lolski006, Damn, $50 VET! Wow, that would be incredible. I haven't seen price calls that high for VET yet. Maybe one day.
lolski006
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@Tighand222, sounds really impossible also, 64.850.448.123 / 86.712.634.466 supply in use, 64.850.448.123 x 1$ = average 65B market cap, 20% of btc (355B) his marketcap, thats why I am still doubtfull about the +1$ predictions. Already 6$ supposely beats BTC market cap. So lets hope (and my person targets also) it will go 0.4-0.5$ first and in couple years we'll see if a dollar is possible, it still needs to multiply 60x from current price to gain 1€, 6000% gain is alot, but then again thats just my opinion! Everyone has his own ideas/expectations. And thanks for your comment, have a nice weekend! :)
Ronbon
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I had a small position in VET, but just added to it. The good growth news just keeps coming for VET. I like investing in projects with real world application. Thanks for your analysis!
lolski006
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@Ronbon, thanks for the reply :) yes i think also vet has so much potentional, we'll find out 2021 and lets hope for the best!