A pseudonymous crypto analyst and trader, known as NOЯDES on Twitter, has recently spotted a bullish signal for the future trend of VET, the native token of the leading enterprise blockchain platform, VeChain.
In a tweet a few hours ago, NOЯDES, a VeChain-dedicated analyst, stated that the digital token VET is currently in the process of retesting the MA50.
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According to the trader, the last time this retest played out, the price of VeChain (VET) surged over 90% in about 1 month. For illustration, he captioned the chart of VeChain against USD (VET/USD).
NOЯDES tweeted, “In the process of retesting the Daily MA50. Last time a successful retest occurred, we recorded +90% in about 1 month. I personally have higher expectations for this wave 3, NFA.”
#VET In the process of retesting the Daily MA50. Last time a successful retest occured , we recorded +90% in about 1 month. I personally have higher expectations for this wave 3, NFA 👀#VeChain #VeFam pic.twitter.com/nu2k4wcNlI
— NOЯDES Ⓥ (@Nordes__) October 10, 2021
The analyst went further to state that VeChain (VET) seems to have re-entered the range after the breakout. According to NOЯDES, the trend will continue if the cryptocurrency retests the Daily Moving Average (MA) and keeps maintaining the $0.115 support level.
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NOЯDES wrote, “Indeed, after the breakout, VET seems to have re-entered the range. 2 things: the continuation will depend on the Daily MA retest + the price doesn’t manage to close below $ 0.115, a crucial support, which is very positive because buying pressure.”
Context pic.twitter.com/H0wUMRnUP5
— NOЯDES Ⓥ (@Nordes__) October 10, 2021
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