VETUSD: VeChain Up 85% in Seven Days; More to Come?

·    July 7, 2020

·      July 7, 2020

·    July 7, 2020


In case you didn’t notice, VETUSD (VeChain) had a breakout weekend and is up 85% in the last seven days alone.

And if I measure from the breakout of the wedge pattern I wrote about on July 1st, VETUSD gained 90% in just five days.

VETUSD 4 hour 7.7.20 1
VETUSD 4-hour time frame

I first wrote about VeChain on June 26th when VETUSD was trading at 0.0088.

Fast forward to today, and you can see that the market has broken above 0.0085 on a weekly and monthly closing basis.

VET also cleared 0.0106, which I discussed in Sunday’s video.

So is VeChain’s bull run over?

Not hardly.

I’ve tried to make it clear that I’m investing in VeChain and not trading it.

The same goes for Bitcoin and Ethereum.

Sure, an 85% gain from VET in seven days is impressive, but I think the next one to two years will make that look insignificant.

VeChain 7 days and MC 7.7.20 1
Screenshot from coingecko.com

The image above shows that VeChain is #1 in terms of seven-day gains out of thousands of coins.

As for what to watch in the short-term, VETUSD did breakout several hours ago from a second wedge pattern.

I posted this pattern on Twitter 24 hours ago…

We saw volume spike some following that breakout, but now we need to see follow-through.

As long as the 0.0142 area holds as support, the recent high near 0.0170 is exposed.

Beyond that, we have the 0.02 handle.

As a side note, since I started writing this post, VeChain gained another 7%, but I still believe prices are low given the strong fundamentals here.

Also, the world is starting to take notice of VeChain…

VeChain Google Trends 7.7.20 final
Google searches for “vechain”

Per Google Trends, the search term “vechain” is up 500% in July alone.

The increase in attention isn’t unfounded.

And given the promising fundamentals, favorable technicals, and the cryptocurrency market breakout, I expect this trend to continue.

Disclaimer: I hold a position in VeChain (VETUSD). The information in this post is for educational purposes only and is not financial advice.

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VETUSD VeChain chart showing breakout from wedge pattern
VETUSD 1-hour time frame


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