NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

VeChain Holds Its Ground Against The Bears, Can It Reach $1?

Reynaldo Marquez
Reynaldo Marquez
Last Updated: April 23, 2021 10:11 pm
2 mins read
VeChain VET VETUSDT

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

VeChain (VET) has been moving sideways in the daily chart while major cryptocurrencies bleed out in the lower and higher timeframes. In the weekly and monthly chart, VET has an impressive 11.4% and 140% respectively trending opposite to the general market sentiment.

VeChain VET VETUSDT
VET moving sideways in the daily chart. Source: VETUSDT Tradingview

Anonymous trader VeChain Justin shared the chart below via Twitter to show VET is on a bullish trajectory. According to the trader, VET formed an Inverse head and shoulders (H&S) pattern on lower timeframes. Usually an indication of a bearish-to-bullish reversal, this pattern was invalidated but later form an ascending triangle pattern. The trader said the following:

On Step 5 (shown in the chart), need bounce from support to breakout and continue trend. #VeChain trading tightening. This is exciting.

VeChain VET VETUSDT
Source: VeChain Justin

An ascending triangle pattern points to a likely break out in the price action. With resistance at $0.27 and support across the low and mid-range of $0.20. On this price structure the Fibonacci extension point to a target of $0.34. The trader added:

a conservative scenario with lower trendline sitting on the 60 day moving average @ 0.2280 and taking 1-2 days longer to complete. Using wicks and MA here. Anything under 0.2300 seems to be a great buy considering the strength of VeChain.

What Behind VeChain’s Pump?

VET’s strong price action could be supported by 5 main facts as pseudonym researcher “ProfessorSD” said. The high number of corporate partnerships from entities like PriceWaterhouseCoopers (PwC), Groupe Renault, DNV GL, and others, seeking to adopt, implement or create their own solutions and products on top of blockchain VeChainThor.

In addition, the rise of the platform in China. The national government in this country seems to be more open about its support for VET. As evidence by a recent report from the China-backed TV channel Shanghai Media Group (SMG), there is growing interest in blockchain technology and its application on VeChainThor and other networks.

ProfessorSD claims VET’s price to $1 and $3.5 is an “easy target” and added three mote potential bullish factors: a potential listing on Coinbase, 3 partners (BYD, BMW, and Bayer) coming live on this platform, and the emission of a “Vaccine Passport” with Cyprus for European countries.

On an alternative scenario, analyst Justin Bennet said is possible for VET to revisit the higher range of $0.10 and even retest much lower levels if “things get really ugly”. Bennet added:

The alternative is that VET closes today above 20 cents, everything rallies tomorrow, and we all live happily ever after. I’m throwing this short-term bearish scenario out there so you’re prepared just in case.

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

crypto

Crypto ‘Pig-Butchering’ Scam Escalating Into A National Security Risk— Study

Chain analysts and law enforcement are sounding the alarm about a type of fraud known as “pig-butchering,” in which criminals...

Christian Encila 5 hours ago
Circle

Circle Stock Plummets By Almost 70% Post-IPO Debut, Analysts Issue Warnings

Following a notable debut on the Nasdaq earlier this year, Circle (CRCL), the issuer of the USDC stablecoin, has experienced...

Ronaldo Marquez 7 hours ago
Les mineurs Bitcoin transfèrent 7 Mds $ vers Binance : pression vendeuse en vue ?

Les mineurs Bitcoin transfèrent 7 Mds $ vers Binance

Les mineurs de Bitcoin viennent d’envoyer un message très clair au marché. Plus de 71 000 BTC, soit plus de...

guillaumev 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin price

Bitcoin Price Correction Could Last Until Mid-2026 — Here’s How

Opeyemi Sule 1 hour ago
Bitcoin

Bitcoin Market Top May Be In As Analyst Shares 1,064-Day Bull Cycle Pattern – Details

Semilore Faleti 2 hours ago
Bitcoin

Bitcoin Price Won’t Crash To $92,000, Here’s Why

Scott Matherson 4 hours ago

Premium Sponsors

Press Releases

  • シバコイン 今後:24時間で1億8,400万枚が焼却され、供給ショックが始まる可能性

    シバコイン...

    3 hours ago
  • リップル 今後:XRP ETFが初日で2億4,500万ドル流入、BTC・ETHを上回る成果

    リップル 今後:XRP...

    3 hours ago
  • 仮想通貨プレセール:大幅下落後に注目すべき買い持ち候補

    ...

    4 hours ago
  • 仮想通貨おすすめ:1ドル未満で狙える将来性の高い5つの有望コイン

    ...

    4 hours ago
  • クジラ投資家が50万ドル超を投入した新興トークン、調達額2,750万ドル到達。次なる仮想通貨 1000倍候補となるのか?

    ...

    4 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.