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VeThor Token (VTHO), a significant component in the utility of the VeChainThor blockchain, has experienced a remarkable surge as its price doubled in only 24 hours. The traded data indicates the current price of VTHO as $0.006148, a 66.96% increment from the previous day and an increase of 147% in a week.
This pump has pushed the token’s market capitalization to $447 million from its 73 billion circulating supply. Concurrently, VTHO’s 24-hour trading volume witnessed a 433% surge to $346,171,725.
Market Analyst Tells of Risk- But Also Gain
According to crypto analyst Crypto 4Light in video analysis, VTHO is expected to go upward with the crucial resistance level at $ 0.01. Although optimistic regarding the outlook, he warns investors about possible volatility and advocates vigilance against quick asset price hikes and market oversupply. He recommends tracking exchange inflows and big sell-offs as market sentiment indicators.
The VeChain X official account was delighted to present a significant real-life application of the blockchain, wherein 2 million daily transactions occurred from one smart contract. This success demonstrates the partnership with PwC and Walmart China, representing one of the largest live blockchain implementations in the retail industry so far.
VTHO/USD Technical Analysis
The VTHO/USD price chart shows that the Keltner Channels bands are expanding, with the top at $0.004531 and the bottom at $0.001725, which signals that the volatility is growing.
With the widening bands, VTHO’s price is moving from its average, which means the market may have increased price volatility. In addition, the top band’s upward trend shows bullish momentum brewing for VTHO/USD.
Furthermore, the Chaikin Money Flow (CMF) trend in the positive region with a rating of 0.06 implies a modest inflow of money into VTHO/USD. This suggests that buying pressure in the market might be stimulated by continued upward movement in the VTHO price.
If the CMF trend continues to be positive and money inflows increase, this could indicate a stronger bullish sentiment for VTHO/USD.
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