MarketPredictionPrice Analysis

Vethor (VTHO) Price Prediction 2021 — Will VTHO Hit $1 in 2021?

  • Bullish VTHO price prediction ranges from $0.02 to $0.075
  • VTHO price might also reach $1 soon.
  • VTHO bearish market price prediction for 2021 is $0.0013.
  • Vethor (VTHO) is a VIP-180 Standard token.

This Vethor Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into account upon coming up with our VTHO price analysis and prediction.

The cryptocurrency market started to surge high. In fact, there are many cryptos that surged to a new all-time during this 2021 bull run. In contrast, some crypto also experienced a downtrend position. As a result, many crypto traders are confused about whether it is time to hold or sell their crypto. This is also the same challenge that traders are experiencing in VTHO.

Nevertheless, the crypto market is consolidating lately, and most crypto assets are losing their previous profits. Will VTHO experience the same price volatility? We’ll find out shortly in this VTHO price analysis 2021 article. But first, let’s have a look at what VTHO is.

What Is Vethor (VTHO)?

VeThor Token is one of the two tokens governed by the VeChainThor public blockchain. VeChain was launched in 2015, but it went through a rebranding process in 2018. While VeChain Token (VET) is the native token for the platform, VeThor Token (VTHO) plays an important role in the overall functionality of the blockchain.

The VeThor Token is a VIP-180 Standard token, that represents the cost of using the VeChainThor blockchain. Moreover, its primary purpose is to facilitate processes and transactions on the blockchain, and it essentially represents the smart contract layer of the network.

Now that we have an idea about VTHO, do you think VTHO will be profitable crypto in 2021? Join me and let us see the charts in this VTHO price analysis and VTHO price prediction.

VTHO Current Market Status

As of the time of writing this VeThor technical analysis, VTHO trades at $0.0183 with a 24-hour trading volume of $146,981,653. The price of VTHO has increased by 7.84% in the last 24 hours.

Furthermore, VTHO has a current circulating supply of $33.586 billion. Currently, the top crypto asset trading platforms for VTHO are Binance, Bitrue, BigONE, Gate.io and MXC.COM.

Now, let’s proceed to the next part of this VTHO technical analysis for 2021.

VeThor Price Prediction 2021

Recently, VTHO held the 101 place on CoinGecko. But will the recent upgrades and changes in the blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this VTHO price prediction article.

VTHO USDT chart showing Bullish Flag pattern
VTHO/USDT chart showing Bullish Flag pattern (Source: TradingView)

Over the last month, the chart above shows an Ascending Scallop pattern and usually this is succeeded by an uptrend. However, the pattern can also move into a downtrend. More so, this pattern took a month for the formation to take place.

As shown above, at the beginning of this period, VTHO turned from a bearish trend to bullish. This is a result of the huge trading volume in that period.

Moreover, in the smaller time frame, VTHO showed a Symmetrical Triangle pattern. This pattern is discussed towards the end of the article.

The Relative Strength Index (RSI) is at 74, which means that VTHO is in an overbought state. However, this may lead to a price reversal at any given time. 

VTHO Relative Strength Index
VTHO Relative Strength Index (Source: TradingView)

Therefore, crypto traders must trade wisely and must not be affected by the market hype. With this in mind, traders must be careful to avoid unexpected losses due to the crypto market’s wild swings.

Let us also look at the Exponential Moving Average (EMA) and the Simple Moving Average (SMA) of Vethor.

VTHO 30-day SMA and 50-day EMA
VTHO 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, VTHO’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidation, fluctuations and corrections right away. Taking this into consideration, VTHO has a competitive market this 2021.

VeThor Price Prediction Chart Showing Symmetrical Triangle Pattern

As shown below in this VTHO price forecast chart, in a smaller time frame, VTHO has shown a Symmetrical Triangle Pattern.

VTHO USDT Symmetrical Triangle Pattern
VTHO/USDT Symmetrical Triangle Pattern (Source: TradingView)

The smaller time frame in the chart above shows the Symmetric Triangle pattern. This pattern represents a period of consolidation that may move to a price breakout or breakdown. A breakdown from the lower trendline indicates the beginning of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.

In the short-to-mid term scenario of our VTHO price prediction 2021, VTHO has to break past the Fib retracement level at $0.040. To do this, it has to establish more support at the Fib level at $0.024. If not, bears may gain the upper hand and drag VTHO further to their territory.

Conclusion

VTHO seems to have a great future ahead in 2021. With the ongoing developments happening within the VTHO ecosystem, as well as in the overall crypto market, we may see VTHO reach new heights.

VTHO USDT Price Chart
VTHO/USDT Price Chart (Source: TradingView)

Meanwhile, our long-term VTHO price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.042 this year. However, that will only happen if it breaks the previous number of psychological resistances.

Even more, the bullish VTHO price prediction in  2021 is $0.075. It may even reach $1 if investors continue to side with VTHO this year along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is VTHO?

VeThor Token is one of the two tokens governed by the VeChainThor public blockchain. Moreover, the VeThor Token is a VIP-180 Standard token.

How to Buy VTHO Tokens?

Users can obtain VTHO tokens by purchasing them from cryptocurrency exchanges such as Binance or Bitrue.

Will VTHO Surpass its Current ATH?

VTHO is the best crypto to invest in 2021. Best of all, VTHO has a high possibility of surpassing its current ATH at about $0.042 this year.

Can VTHO reach $1 soon?

Yes, it’s very much possible that VTHO might reach $1 in the near future as per the current bullish trend.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Recommended Articles

Alyssa Wiselin

Crypto trading has enticed Alyssa Wiselin to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.

Related Articles

Back to top button