Hello Traders. I hope you are having a fantastic 1st of April. Today I want to share my thoughts on VTHO. As you can see, VTHO broke the resistance ( purple range ) on 20 march and had a nice bullish run. Now it has made a pullback to the resistance area now acting as a support for it. Also we have a blue short term trend line acting as a support. So overall, in my opinion, you can make a nice long position here.
Entry = 0.0135 $ Target 1 = 0.024 $ Target 2 = 0.08 $ Stop loss = 0.0125 $ ( if the 4H candle closes below the support area )
🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades. 🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders.
If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis.
Thank you guys for reading my idea on VTHO and don`t forget to comment what you think. ✌
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It grew about 30% from the support zone. Now it is under ichimoku cloud and also under a descending line as well so the resistance pushed the price down. Always put stop loss just in case.
@nerro, yeah a bit, but don't worry. You'll be ok my friend.
joshhaz
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@Existansilon, how do you think the VeChain announcement will affect the price? I'm confused about it.
Existansilon
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@joshhaz, Well I don`t really follow the news that much and I mostly analyze technically and charts but I just read a little bit about it and it seems probably it will affect the price
negatively short term ( but as I said it may happen or may not happen ) but in the long term, I don`t see any problem.