VeChain (VET) is a blockchain platform for logistics management. The idea behind VeChain is to increase the efficiency, traceability, and transparency of supply chains while reducing costs and putting more control in the hands of individual users. Maximally logistics optimization is very important in the current difficult times. Launched in June 2016, VeChain is now one of the oldest specialized blockchain-based logistics platforms.
VET is a token used for transactions and other activities, while VTHO provides commission payment, similar to how Gas works for Ethereum (ETH) transactions.
If we look at the chart with weekly candlesticks, we can see that for the last six months the price of VETUSDT has been trading above a strongly mirrored level. The liquidity zone of $0.02-0.022 in 2018, 2020-2021 and now skillfully played the role of resistance and support alternately for a long period of time.
In case of a positive phase in the cryptocurrency market, $0.039 per VET should be an easy target in the coming weeks. The medium-term target is $0.06 according to the blue scenario.
If the negative background and "wars" behind the scenes of the crypto market will continue (in particular, we described them in yesterday's FTTUSDT idea) Then the development of the white scenario can also be considered positive)
The main thing is that buyers of VETUSD keep the price above the liquidity zone of $0.02-0.022 and then everything will be fine for VET in the medium and long term. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
Trade active
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Buyers of VET withstood yesterday's drain of the crypto market, and did not allow the price to fall below the liquidity zone and update the lows of 2022, as the price of BTCUSDT did. White scenario of VETUSDT price movement is relevant
Chart is great regardless the small dip. Good stuff here, always.
Tolberti
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Nice detailed analysis, I like it!
CryptoCheck-
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Excellent update thanks
ProjectSyndicate
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maybe later let's keep an open mind
UnknownUnicorn15614419
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Extremely convenient design of the graph for perception. Deal with a good RRR, thanks for the idea)
Solldy
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The chart is pretty good, as is the idea in general. But the risks are quite high right now. I wonder what your risk-management strategy is for this trade?
TheTradersAvenue
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Beautiful setup mate. Thank you!
AtlasTrades
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Your vetusdt idea seems to be pretty accurate, I also have the same view, thank you.
YMGroup
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Have you looked at it on other timeframes?
SwallowPremium
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It can give us a good profit once the trade activates!!!