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- Less than 24 hours remain to launch the PoV 2.0 VIP=220 hard fork.
- The VET market responds positively to the step taken.
- The price surges by more than 5%, amounting to $0.021.
VET is set to launch PoA 2.0 VIP=220 Hard Fork on Nov 17, as they are real-world-ready for the future. The market responds well to the initiative as the negative sentiments seem to drain out and hope to rise “byte by byte.”
The price is breaking the downtrend witnessed due to the ongoing liquidation crunch in the crypto-verse. The price trends indicate the attracted attention of the users for the new launch, highlighting its need in present-day situations.
Here’s what the charts reveal
The price escalates upwards, taking support at $0.0192, and reaches $0.020 paired with rising purchase volumes. The BB bands form a concave shape as the price rises from the support thread and move upwards. As the launch date approaches, the price may increase and reach nearer to $0.021. The launch and its success will decide its further movement.
The market looks optimistic regarding the launch and may maintain this state as this brings new faith in the industry and the users. The CMF indicator moves close to 0-point and is green showing the uptrend in the market. The MACD indicator is on the path of future convergence when the bulls will take over the market. It may converge soon as the launch is due in less than a day. The RSI indicator moves closer to being neutral and loosening the grip of the bears. It may remain neutral before shooting up.
The recent happening
The recent hours show price forms a “V” shape with initial stages of uptrends. The CMF indicator moves above the 0-point and gives green to the bulls waiting. The MACD has turned bullish after the divergence with the signal line lying below it. The divergence may widen as and when the bulls take over. The RSI indicator moves to the 50-60 mark, where bulls are more active, and purchases are over sales. It may move closer to the 70-mark range.
Conclusion
The VET market is getting back in the game with this new feature to win back its users and set a strong footing in the market. The venture’s success is directly related to the price trends of VET. The present situations reflect that the users are eager for it and would appreciate the notion.
Technical levels
Support levels: $0.020 and $0.019
Resistance levels: $0.024 and $0.025
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
