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Is It Too Late to Buy VeChain? VET Price Blasts Up 12% and This New Crypto Platform Uses AI to Find the Next Low Cap Gem

Sam Cooling
Last updated: | 3 min read
Source / Sam Cooling x TheDigitalArtist (Pixabay)

VeChain (VET) is enjoying a bullish resurgence following the news that leading CEX Coinbase will be adding support for VeChain and VeThor (VTHO).

The listing news comes amid rock-bottom price action for native token VET, which has bled-out -94% since its all-time high at $0.28 in April 2021.

<oembed url="https://twitter.com/CoinbaseAssets/status/1701626491090424298?s=20[/embed]

Coinbase’s decision has been long anticipated by the VeChain community, with comments from the leading exchange hinting at a VET listing all the way back in 2020.

VET Price Analysis: Is it Too Late to Buy VeChain After Coinbase Listing Announcement?

Crypto markets have been invigorated by the Coinbase news, and this has driven VeChain to the top of the trading channel, leaving VET trading at a current market price of $0.016 (representing a 24-hour change of -1.21%).

TradingView / VET USDT

The sudden announcement triggered a significant bounce-off lower trendline support, with price climbing +13.6% in the wake of the news.

Resistance from the $0.165 price level has stalled the rally, triggering a consolidation as buy-pressure continues to hold strong.

Critically, the 20DMA was reclaimed in the upside swing – with VET cracking a ceiling of local moving average resistance that has suffocated price action since July 24.

With the 20DMA now forming under-footing to the ongoing consolidation, VET price action has formed a double-bottomed support pattern that could be indicative of a trend reversal if price pushes higher.

In typical fashion, the RSI heated-up during the +13.6% move, flipping to an overbought signal at 51.75 – further adding to the case that consolidation could be likely here.

While the MACD has flipped to bullish divergence at 0.00013, suggesting upside momentum driven by strong buy pressure will continue.

Overall, the Coinbase announcement has catalysed a strengthening of VeChain’s technical structure, with VET now poised for a trend reversal with a view towards the 200DMA at $0.02.

TradingView / VET USDT

On the short-time frame, VET has an upside target at $0.0175 (a possible +7.83%) – a move that would demarcate a breakout from the trading channel in a reversal of the downside trend.

However, if VET is rejected from consolidation here, downside risk could see VET plummet back below the 20DMA to $0.015 (a possible -7.58%)

This leaves VeChain with a risk: reward ratio of 1.03, a mediocre entry dependent on consolidation.

But while VET battles to push up, smart money are already investigating alpha for their next big trade using a professional AI trading analytics platform.

Launchpad XYZ: One Week Left to Join AI Insight Platform With 17% Bonus

Source / Launchpad XYZ

There is less than a day left to buy Launchpad XYZ (LPX), an innovative ecosystem designed to lower the entry barrier to Web 3.0 with user-friendly tools, insights, and analytics.

Whether you’re a seasoned crypto user or just starting, this platform offers a range of features, such as NFT discovery, a decentralized exchange (DEX), a Web3 wallet, and utility token analysis.

At the heart of the Launchpad XYZ ecosystem lies the $LPX token – holders who stake a minimum of 10,000 tokens can reap numerous benefits, including substantial fee discounts, exclusive early access to NFT mint whitelists and presales, beta play-to-earn game launches, as well as cool community prestige badges.

The platform’s intention to list LPX on major cryptocurrency exchanges is expected to drive significant demand for the token.

<oembed url="https://twitter.com/launchpadlpx/status/1701641905853890827[/embed]

Following the introduction of its primary features in Q3 2023, Launchpad XYZ anticipates substantial user adoption.

With its maximum token supply of 1 billion, $LPX is set to launch on crypto exchanges later this year with a fully diluted market cap of $70 million. This makes it a platform to watch in the rapidly evolving crypto industry.

Given its comprehensive suite of features and ambitious vision, Launchpad XYZ is set to break barriers and redefine the crypto space.

As it facilitates an inclusive Web3 ecosystem, the $LPX token is proving itself a promising opportunity for investors. Whether you’re new to the crypto world or a seasoned investor, Launchpad XYZ is one platform you can’t afford to overlook in 2023.

Explore the latest Web3 presale projects, P2E Hub for gaming, the Metaverse Experience Library, and the Trading Terminal for an immersive experience.

Future developments include a marketplace for fractionalized assets, a Trading Edge Game, and creator tools for brands.

Don’t miss out on the opportunity to invest in Launchpad XYZ, a promising project with the potential for significant growth. 

For more information, visit Launchpad XYZ today, also stay tuned with the project Twitter and Telegram to receive all of the latest updates and team news.

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.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.