VeChain (VET) and VeThor (VTHO) were lagging behind on other coins, but in the past few days they had a beautiful run up and are performing well. Crypto Michaël took a look at the charts and made price predictions for each.
The construction on the VeChain chart established support back in 2020. There has been a recent resistance/support flip in January 2021 before the price started accelerating heavily upwards. New resistance/support flips at 3.5 cents, 5.8 cents, and 6.9 cents means another resistance flip to support at 8.3 cents on the daily chart indicates a bullish trend.
Michaël compared VeChain to Harmony (ONE) which is very similar in the construction before it took off and went on a parabolic run. He reiterated that a pull back to strong support has to happen to VeChain before accelerating to the upside like Harmony.
Michaël says price prediction is best made with the VET/BTC chart as it gives more insight for the long term. He believes the next levels to watch as price top for VeChain is 364 sats and 567 sats [current price 158 sats].
He also charted VeThor (VTHO), the token used to power transactions on the VeChain ecosystem and is equal to the cost of conducting transactions on its blockchain. The entry points for VTHO is $0.0072 and $0.014.
This episode premiered on March 22nd, 2021.
