VTHO Price Prediction: Will It Trigger a Breakout From Channel?

• The VeThor Token price has dropped by 17.75% in a week.
• The VTHO crypto price has slipped below the 20-day EMA, indicating the bearish momentum.

VeThor Token’s price chart displayed a slow and steady fall, forming lower lows and lower highs for the last few weeks. At the beginning of February, the VTHO price was pumped by 209% in just 2 weeks but failed to sustain, and profit booking took place. The price has been declining through a channel, and the VTHO price prediction suggests that the price will be bearish in the short term.

Recently, the VTHO price surpassed the 20-day exponential moving average but failed to sustain and witnessed selling pressure. Since 2021, the VTHO price has witnessed intense selling pressure; buyers have become too weak to bounce back, and sellers have dominated.

When trading, the VeThor token price was trading at $0.00387, which dropped by 1.85% in the last 24 hours. The market capitalization is $289.24 million, and the fully diluted market cap is $289.27 million. The 24-hour trading volume is $4.66 million, which has increased by 28%.

VTHO Crypto Volume vs Price Analysis

From mid-February, the trading volume decreased from $350 million to $4.85 million, and the VeThor token price declined by 45%. The trading volume has remained constant for the last 7 days, but the price has shown negative momentum. If the trading volume increases, the price may perform positively.

VeThor Token Price Has Formed a Flag and Pole Pattern on Daily Timeframe

The VeThor token price has formed a flag and pole pattern on a daily time frame and has declined through the channel. Suppose the VTHO price surpasses the 20-day exponential moving average and is sustained over the trendline; buying momentum for the short term can be expected. Buyers may be eyeing the last swing high if it triggers a breakout.

On the other hand, if the sellers remain strong, then the VTHO crypto price may keep declining through the channel. The selling pressure can be expected if the price slips below the $0.00370 level and sustains.

Based on the technical indicators, the VeThor token price is trading between the 20-day and 200-day exponential moving average. RSI is 42 and has slipped below the RSI-based moving average, indicating the bearish forecast.

Track all markets on TradingView

Technical Analysis of VeThor Token Price on 4-H Timeframe

In a daily time frame, the VeThor token price has been falling due to resistance from the trendline, and a bearish crossover has been generated between the 20-day and 200-day exponential moving average.

Suppose the VTHO price rises and surpasses the 200-day EMA; it may approach the trendline. However, if the price surpasses the trendline and sustains, the price may rise to the last swing high.

Alternatively, if the price rises to the trendline and forms a bearish candlestick, selling pressure can be expected for the short term and may follow the recent trend.

Conclusion

In a broader time frame, the VeThor token price has been bullish, but sellers dominate in the short term. The price has formed a flag and pole pattern and has been declining through the channel. The VTHO crypto price has faced resistance from the $0.00700 mark and declined by 46% in the last few weeks. According to the analysts, a buying signal can be generated over the $0.00500, and sellers may dominate below the $0.00350 level.

Technical Levels

Resistance: $0.00450 & $0.00550

Support: $0.00360 & $0.00260

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.