Daily Price Action

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


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 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.

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…

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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Justin Bennett says

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Matthew Williams says

Evening Justin (I’m in the UK),

I would just like to thank you for your research and insight. I bought VEchain as an investment just over a week ago on your recommendation, plus my own research. I can’t believe it has gone unnoticed for so long. I am currently waiting for a retracement to below 0.015 to add more coins to my portfolio.

    Justin Bennett says

    My pleasure, Matthew. It’s one of those rare finds, in my opinion. Cheers.

Sandi Rosenau says

I have been a member for over a year and I always see comments that you mentioned in the members area, and I seem to not get some of these or never saw in member’s area. Please explain

    Justin Bennett says

    Are you following me in the member’s area to get alerts? That’s the best way to go about it.

    speculator says

    Hi friend, come straight. Are you a satisfied member.Are you able to make any progress in fx trading after one year of training?

speculator says

Hi Justin,Good Morning ! Blueberry markets(your preferred broker) do not offer vetusdf.So which broker you suggest for this instrument.,please?Thanks.

speculator says

I have not become a member yet.But I am getting insight from Justins analysis.Sure fx market is very unpredictable and can go in any direction after we enter.Sometimes very difficult to believe that some analysis exist for predicting fx move.Only time will tell.

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