A few days ago we looked at VET's bullish indicators. VTHO is the gas of the VeChain ecosystem, so generally if VET sees major growth in price and volume VTHO follows.
Doing technical analysis on VTHO to confirm our beliefs, we see our EMA20 still trending above the EMA50. We just hit a very important point where price touched the EMA20 (first support). If we see a nice rebound and remain within the purple lines a nice bull run can be expected.
The awesome oscillator also confirms this trend with the lines steadying out and turning red, best case scenario would be the lines to go back green and continue rising along with price.
I try to point out these moves BEFORE they happen, not just post analysis on bull runs. Please understand this can still take a short turn down based on overall market sentiment, but most indicators point to be very bullish.
This is not financial advice! Please trade at your own risk.
Thank you so much for this information! Do you see a coin like VTHO ever hitting a penny or more? Love the analysis!
mattforutan
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@MojCrypto, To be entirely honest that's a very tough question. Easy answer would be no, since hitting 1 penny would require over a 1200% growth. Not impossible in the crypto space by any means but not something that will happen any time soon. That would require long term adoption of VET as a supply chain management tool and would need to see a significant spike in volume for the cost of its gas token to go that high up. So never impossible, but don't bet the house on seeing growth like that.