VETUSDT (VeChain) - Coin of the Week
VeChain (VET) is a blockchain-powered supply chain platform. Begun in 2015 and launched in June 2016, VeChain aims to use distributed governance and Internet of Things (IoT) technology to create an ecosystem which solves some of the major problems with supply chain management.
Technically, VeChain reached the resistance area at 0.15 USDT. Here, we see 2 possible scenarios for this cryptocurrency. The first one is a retracement to the blue trendline marked on the chart and then a continuation to the upside and the second scenario is a small consolidation at the resistance level before continuing higher. If the price breaks the blue trendline we have to study the price structure as a bigger correction may be playing out.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, VeChain reached the resistance area at 0.15 USDT. Here, we see 2 possible scenarios for this cryptocurrency. The first one is a retracement to the blue trendline marked on the chart and then a continuation to the upside and the second scenario is a small consolidation at the resistance level before continuing higher. If the price breaks the blue trendline we have to study the price structure as a bigger correction may be playing out.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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