VET is experiencing a renaissance of bullish activity following Coinbase‘s announcement of support for both VET and VeThor (VTHO). This news came as a welcome surprise amidst a period of poor price performance for VET, which saw a reduction of 94% from its record high of $0.28 in April 2021.
Market enthusiasts have noted a spike in VET trading activity, fueled by the much-anticipated announcement from Coinbase. The settled dust revealed a 24-hour change of -1.21%, with VET trading at a modest $0.016. Meanwhile, the market foresees a double-bottomed support pattern, suggesting an impending shift in trend. The relative strength index (RSI), currently overbought at 51.75, hints at potential consolidation, while the moving average convergence divergence (MACD) signals an uptick in bullish divergence.
Regardless of this positive outlook, a potential downside risk remains. Failure to break out of the trading channel could result in a plunge back below $0.015. This gives VET a middling risk/reward ratio of 1.03, requiring a tactical approach for traders.
In parallel, astute investors are exploring opportunities on an artificial intelligence (AI) trading analytics platform called Launchpad XYZ. Here, they can utilise a wide array of Web 3.0 tools for NFT discovery, utility token analysis, and much more.
Launchpad XYZ’s native token, $LPX, is set to make a grand entrance on major cryptocurrency exchanges, attracting a flurry of investor interest. Token holders also stand to profit from an array of benefits, including considerable fee reductions, early access to NFT presales, and unique community prestige badges.
With a total token supply of 1 billion and an initial estimated market cap of $70 million, $LPX represents a potentially lucrative investment. This bold project is demonstrating the capacity to revolutionise the crypto space and could provide substantial growth for early investors.
For those ready to delve into the world of cryptocurrencies, Launchpad XYZ offers a multitude of opportunities. Its upcoming features, such as the marketplace for fractionalised assets and a Trading Edge Game, promise an intriguing blend of learning and potential profits.
Caution remains, given the volatile nature of the crypto market. Whether $LPX proves to be a boon for investors remains to be seen. As such, potential investors must approach with a moderated enthusiasm, keeping an eye on the market, and staying updated with their chosen platforms’ news and updates.
Source: Cryptonews
