VeThor’s(VTHO)+450% Boom: Fundamentals & Technical Insights!🎂 Today marks the beginning of a new chapter in my life! My biggest wish for this year is to grow stronger together with all of you—my amazing followers. I hope to provide even better insights, share more valuable trading strategies, and help us achieve both profits and health and happiness. 🎂
--------------------------------------------
In the last 24 hours, the VeThor Token ( BINANCE:VTHOUSDT ) project has managed to increase by more than +450% . Let's take a look at the reasons for the VeThor Token(VTHO) increase :
The fundamental reason behind the recent surge in VeThor Token (VTHO) could be attributed to increased network usage and adoption of the VeChain blockchain :
Higher Network Activity : The VeChain( BINANCE:VETUSDT ) ecosystem has seen growing adoption in industries like supply chain, logistics, and sustainability, leading to increased demand for VTHO to pay transaction fees.
New Partnerships and Integrations : Announcements of new collaborations and partnerships involving VeChain have boosted investor confidence, indirectly driving demand for VTHO.
Technical Upgrades : Improvements in the scalability and efficiency of the VeChain network have made it more appealing for developers and businesses, increasing VTHO's utility.
Speculation and Market Sentiment : Positive sentiment and speculation about VeChain's future potential have likely influenced short-term trading volume and price spikes for VTHO.
--------------------------------------------
Let's take a look at the Technical Analysis of the VTHO token :
During the last 24 hours, VTHO seems to have managed to break the Heavy Resistance zone($0.0070-$0.0037) . One of the signs of a valid failure is that it is broken with a large volume of this zone .
Regarding Elliott wave theory , it seems that VTHO has successfully completed the main wave 3 above the Heavy Resistance zone($0.0070-$0.0037) and is currently completing corrective waves . Probably, the structure of corrective waves is Zigzag type(A-B-C/5-3-5) .
I expect VTHO to start increasing again after the -30% decrease from Potential Reversal Zone(PRZ) and at least increase(+40%) to the Resistance line, and if the Resistance line is broken , we can confirm the end of the main wave 4 and wait for further increase of VTHO .
Note: If VTHO goes below the Potential Reversal Zone(PRZ) , we can expect further price reduction of this token.
Please respect each other's ideas and express them politely if you agree or disagree.
VeThor Token Analyze (VTHOUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
