Saturday, January 22, 2022

Analyst: VeChain in the Process of Retesting Daily MA50, Last time It Occurred, VET Recorded Over 90% in About 1 Month

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.”

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.”

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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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