VeThor Token (VTHO) Technical Analysis 2021 for Crypto Traders

VeThor Token (VTHO) Technical Analysis 2021 for Crypto Traders

In VeThor Token (VTHO) Technical Analysis 2021, we use past statistics, price analysis, RSI, RVOL, and much other information about VTHO to analyze the future movement of the cryptocurrency. 

VeThor Token(VTHO) is one of the two tokens employed by the VeChain public blockchain. VeThor Token (VTHO) plays an essential role in the overfall functionality of the blockchain. It is unique due to the fact that it is a VIP-180 Standard token. VTHO is an inseparable part of the operation of VeChainThor.

VeThor Token (VTHO) Current Market Status

According to CoinMarketCap, the VTHO price is trading at $0.01251with a 24-hour trading volume of $67,668,772, at the time of writing. However, VTHO has dropped by 15.08% in the last 24 hours. 

In addition, VTHO has a circulating supply of 38.95B  VTHO. Currently, VTHO trades in  Binance, ZT, Gate.io, HitBTC, and Bitrue. 

VeThor Token (VTHO) Technical Analysis 2021 

VeThor Token (VTHO) holds the 122nd position on CoinMarketCap right now. The recent development and upgrades might push VTHO to reach new heights. Now, let’s deep dive into the VTHO technical analysis 2021. The daily time frame chart of VeThor Token (VTHO) is shown below.

 VTHO/USDT  Descending Triangle  Pattern (Source: Tradingview)

The above chart shows the Descending Triangle pattern. The descending triangle is formed in the downtrend and indicates the continuations of the downtrend. It is designed as a downward sloping triangle with support and a slope of lower highs. The support does not allow the prices of the securities to move more downward. The lower highs indicate that the selling pressure has increased.

VTHO trades in a range of $0.0125. If the price breaks the trend line then it falls to the support level of $0.0037. Or else it will rise to the resistance level at $0.100

VeThor Token (VTHO) RSI

The below chart shows the relative strength index (RSI) of VTHO. 

VTHO RSI (Source: TradingView)

As shown in the below chart, RSI remains at 69.67. This shows that VTHO’s price is in a nearly overbought state. However, this shows that traders can trade fearlessly.

VeThor Token (VTHO) RVOL

The below chart shows the Relative Volume of VTHO. RVOL is an indicator that represents to traders how the current trading volume has changed over a period of time compared to the past trading volume.

VTHO RVOL(Source: TradingView)

Notably, in the last week of July, it is found that the RVOL of VTHO observed is weaker. Currently, the RVOL of VTHO remains below the cutoff line which represents the weaker participants in the current trend.

VeThor Token (VTHO) Moving Average

VTHO’s Moving Average (MA) is shown in the chart below. Moving Average is a part of technical analysis that supports traders to find trends.

VTHO MA (Source: TradingView)

Currently, VTHO is in a bullish state. However, the VTHO price is above 50 MA (short-term), and it has a high chance of moving higher. Furthermore, VTHO price is above 50 MA and 200 MA (long-term), so it is completely in a bullish state. Moreover, there is a high possibility of a Trend reversal at any time.

VeThor Token (VTHO) Price Comparison With Bitcoin

The below chart shows the price comparison between VTHO and BTC. 

VTHO vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and VTHO is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of VTHO also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the VTHO platform. VeThor Token has a great future ahead in this crypto market. However, VTHO can reach new heights.

Bullish VTHO price prediction 2021 is $ 0.100. As mentioned above, it may reach great heights, however reaching $1, if investors have decided that VTHO is a good investment in 2021.

FAQ

What is VTHO?

VeThor Token(VTHO) is one of the two tokens employed by the VeChain public blockchain. VeThor Token (VTHO) plays an essential role in the overfall functionality of the blockchain

Where can you purchase VTHO?

VTHO is listed on many cryptocurrency exchanges that include Binance, ZT, Gate.io, HitBTC, and Bitrue. 

Will VTHO reach a new ATH soon?

With the ongoing developments and upgrades inside the VTHO platform, it has a high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.