ACC/DIST (-152mil 30th July '18, -5.4B today) is a strong indicator that Vechain Thor will continue it's downward trend into the near future. Also moving average against the USD is showing strong volatility.
On a positive note, China's big announcement during the week that it will be delving into the blockchain world. Created a positive spike in volume for VET and moving average against the USD (+45%). Expect to see a correction
as hype subsides for now (-27%).
I expect sideways movement for now as VET cannot be considered a complete Crypto project as it is not completely decentralized with some centralized features. This creating many unanswered questions for traders. Current technical analysis is 6 sell, 1 Neutral and 1 Buy.
Now for some speculative ifs just for fun.
If China mass adopts VET - price could touch - $.03 - $.20
If VET expands further afield (EU, US). - $.35
Regards
EWH
On a positive note, China's big announcement during the week that it will be delving into the blockchain world. Created a positive spike in volume for VET and moving average against the USD (+45%). Expect to see a correction
as hype subsides for now (-27%).
I expect sideways movement for now as VET cannot be considered a complete Crypto project as it is not completely decentralized with some centralized features. This creating many unanswered questions for traders. Current technical analysis is 6 sell, 1 Neutral and 1 Buy.
Now for some speculative ifs just for fun.
If China mass adopts VET - price could touch - $.03 - $.20
If VET expands further afield (EU, US). - $.35
Regards
EWH