VechainThor is an open-source protocol that uses blockchain technology to solve real-life economic problems. Driven by two native tokens — VET and VTHO, the VechainThor network helps users to distinguish between the costs for harnessing blockchain and market speculation. It also provides a robust infrastructure for the creation of innovative decentralized apps. The following VET technical analysis predicts price trends for the next two days: Past Performance On Jul 20, 2021, VET opened at $0.062. On Jul 26, 2021, VET closed at $0.078. Thus, in the past week, the VET price has increased by roughly 26%. In the last 24 hours, VET has traded between $0.075-$0.089. https://ift.tt/3l24BmE Day-Ahead and Tomorrow Currently, VET is trading at $0.077. The price has decreased from the day’s opening price of $0.078. Thus, the market seems bearish. The MACD and signal lines are positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish. Hence, we can expect the price to start rising. Currently, the RSI indicator is at 55%. It faced rejection at 50% and rose to the current level. Hence, buying pressures are high. High buying activity will exert upward pressure on the VET price. But, the OBV indicator is downward sloping. Thus, selling volumes are higher than buying volumes. Hence, the price may decrease further. In short, the MACD and RSI indicators have given positive signals, while the OBV indicator has given negative signals. Thus, we have to wait and watch if the bearish trend sustains or a trend reversal occurs. VET Technical Analysis Currently, the price is below the Fibonacci pivot point of $0.081. The price may soon surpass it and further rise above the first Fibonacci pivot resistance level of $0.086. After that, we have to wait and watch if the price rises further or falls again. The price may soon test and breach the 23.6% FIB retracement level of $0.078. It may further break out of the 38.2% FIB retracement level of $0.08 as well. If by day end, the price retests and falls below these levels, the bears have regained strength. In that case, the price may continue to fall tomorrow as well.
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