Vethor Token price jumped by 67 per cent during yesterday’s trading session before dropping. The cryptocurrency ended up closing the session with a 39 per cent gain.
Looking at the data, the trading volume of the Vethor Token has surged by more than 600 per cent in the past 24 hours. This has resulted in trade volume within these hours surging to $89 million. Normally, when a cryptocurrency trade volume increases at such a rate, it is possible that there is a gain of traction in the currency. It is also possible that sharks who buy cryptocurrency in large quantities are coming into the market and pushing the prices up.
Another factor that may have been responsible for yesterday’s rise in price is the real-world usability of the cryptocurrency. Vethor Token allows its users faster-processing speeds and powers real-world supply chain management processes. It is possible that the last 24 hours’ spike in price is from people who are seeing the Vethor Token as a perfect alternative to what they use in their day to day lives. If that is the case, then it is also possible that yesterday’s surge in price is poised to continue.
Today’s trading session has seen Vethor Token’s price drop by more than five per cent. This is after having a 39 per cent rise in yesterday’s session. However, based on the daily chart below, the current drop in price may be temporary. The current drop is likely that the prices are correcting after yesterday’s aggressive market, and the bullish trend will continue.
Therefore, I expect the prices of Vethor to trade at the $0.0067 resistance level in the coming days. I also expect the bullish price that has lasted for more than two weeks to continue. Furthermore, the Williams Alligator indicator shows that the cryptocurrency is in a strong bullish market based on the chart below. this further proves that the prices are likely to recover and continue being bullish.
This post was last modified on Mar 31, 2022, 10:16 BST 10:16