Vechain price tanks 4% intraday on Wednesday as altcoins take a turn for the worse.

VET bulls are betting on crucial support to come in and halt the bear push.

Should price action break below, a 27% bear market could be activated.

Vechain (VET) price action has bulls hanging in the ropes as the altcoin is very near to falling into bear market territory. The continuous sell offs occur as cryptocurrencies see more negative setbacks from the Silvergate Capital debacle and proves to be a big challenge for investors. Faith in altcoins is broken again, with a decline to $0.017 at risk.

Vechain bulls are getting a cold shower as bear market fears loom

Vechain price is tanking yet again after bulls already had to give up on the green ascending trend line and the 55-day Simple Moving Average (SMA). With already two strikes, the third one could be the final straw that ends the game for bulls. Just like in baseball, bulls could get a third strike and enter a bear market.

VET sees bulls trying a hail mary as only the 200-day SMA and the monthly S1 support level are gearing up near $0.022 as the last line of defense. With bearish pressures mounting, bulls need to get out once that level breaks down. The most accurate projection from the chart is that price action in VET can tank as much as 27% towards $0.017.

A bounce to the upside would make sense here, seeing that the Relative Strenght Index (RSI) is again nearly oversold. Some upside moves could be seen hitting $0.025, with this time the 55-day SMA as resistance on the top side. In that case, a nice gain of roughly 11% would be at hand for bulls to feast on.

#vechain #buildtogether #Binance #bitcoin #crypto2023

In today's globalized economy, supply chain management plays a crucial role in ensuring the smooth flow of goods and services. However, it is a complex process that involves multiple stakeholders, including manufacturers, suppliers, distributors, and retailers. Traditional supply chain systems often suffer from issues such as lack of transparency, counterfeiting, and inefficiencies. VeChain, a blockchain-based platform, aims to address these challenges by providing a robust and transparent solution for supply chain management. In this article, we will explore the key features and benefits of VeChain and how it is transforming the way businesses operate.

1. Understanding VeChain:

VeChain is a decentralized blockchain platform designed specifically for supply chain management and the Internet of Things (IoT). It was launched in 2015 and has gained significant traction as a reliable solution for businesses seeking enhanced transparency, traceability, and security in their supply chains. The platform combines blockchain technology with IoT devices to create a comprehensive ecosystem that enables seamless data sharing and verification.

2. Enhanced Transparency and Traceability:

One of the main advantages of VeChain is its ability to provide transparency and traceability throughout the supply chain. By leveraging blockchain's immutable ledger, every transaction and interaction within the network is recorded and can be accessed by authorized participants. This ensures that stakeholders have access to real-time and tamper-proof information about the origin, authenticity, and movement of goods. For industries such as food and pharmaceuticals, this level of transparency can help prevent counterfeiting, improve quality control, and ensure compliance with regulatory standards.

3. Supply Chain Efficiency and Cost Reduction:

VeChain's blockchain-based platform eliminates the need for intermediaries and manual record-keeping, streamlining the supply chain process and reducing operational costs. Smart contracts, a key feature of VeChain, enable automated and self-executing agreements between parties. These contracts can facilitate various processes, such as inventory management, logistics, and payment settlements, leading to increased efficiency and reduced paperwork. By optimizing supply chain operations, businesses can save time, resources, and ultimately enhance their overall competitiveness.

4. Trust and Collaboration:

Trust is a critical factor in any business relationship. VeChain provides a trustless environment where participants can collaborate and share data securely without relying on a centralized authority. The decentralized nature of the blockchain ensures that data is validated and verified by multiple parties, reducing the risk of fraud and manipulation. This encourages collaboration and enables seamless integration between different entities in the supply chain ecosystem, fostering stronger business partnerships and enhancing overall trust.

5. Real-World Applications:

VeChain has successfully implemented its technology in various industries. For example, in the luxury goods sector, VeChain's blockchain allows consumers to verify the authenticity of high-end products, reducing the risk of counterfeit items in the market. In the agricultural industry, VeChain enables farmers to track the entire lifecycle of their produce, from planting to distribution, ensuring food safety and quality. Additionally, VeChain's technology has been applied in logistics, automotive, and pharmaceutical industries, demonstrating its versatility and adaptability to different supply chain scenarios.

Conclusion:

VeChain is revolutionizing supply chain management by leveraging the power of blockchain technology. Its transparent and secure platform enables businesses to achieve enhanced traceability, transparency, and efficiency across their supply chains. By providing real-time data sharing, automation, and trustless collaboration, VeChain empowers organizations to build robust and reliable supply chain networks. As more industries recognize the potential of blockchain in transforming their operations, VeChain stands at the forefront, driving innovation and reshaping the future of supply chain management.

#ceocrypto25 #vechain

Exploring the Rapid Rise of VeChain (VET) and VeThor (VTHO) on Twitter – Uncovering the Factors Behind a 100% Gain in a Single Day
Cryptocurrency markets are known for their volatility, and VeChain (VET) and VeThor (VTHO) recently took center stage with an astonishing 100% gain in a single day. This surge not only caught the attention of traders but also sparked a significant buzz on social media platforms, particularly Twitter. In this exploration, we unravel the various elements contributing to this rapid rise and delve into the intricacies of the VeChain ecosystem.
1. Twitter Buzz and Social Media Surge:
- VeChain and VeThor become trending topics on Twitter.
- A surge in social media mentions triggers curiosity among crypto enthusiasts, indicating heightened interest in the VeChain ecosystem.
2. Behind the VeChain Project:
- A comprehensive overview of VeChain's blockchain technology, emphasizing its role in supply chain management.
- Examination of technical aspects, including the consensus mechanism and scalability, providing a foundation for understanding the project's robustness.
3. Utility of VeThor (VTHO):
- Exploration of VeThor (VTHO) as the native gas token on the VeChainThor blockchain.
- Technical insights into its function and importance within the VeChain ecosystem, shedding light on its contribution to the project's overall utility.
4. Recent Developments and Partnerships:
- Highlighting key partnerships that may have contributed to the sudden surge, underlining the importance of collaboration in the blockchain industry.
- Analyzing recent technical advancements and updates in the VeChain protocol, providing context for the market's positive reaction.
5. Market Dynamics and Trading Patterns:
- In-depth analysis of technical indicators and patterns leading to the extraordinary 100% gain.
- Identification of trading volumes, liquidity, and key technical levels that played a crucial role in the price movement.
6. Community Speculations:
- Delving into the speculations and discussions within the crypto community on platforms like Twitter.
- Assessing how community sentiment influenced the price movement and contributed to the overall market dynamics.
7. Influence of Market Trends:
- Examination of broader market trends and their impact on VeChain's surge.
- Evaluation of how overall market sentiment played a role in individual coin performance, providing a holistic perspective.
8. Fundamental Analysis:
- Conducting a fundamental analysis of VeChain, including insights into its financial health and tokenomics.
- Examination of the team, key partnerships, and the project's long-term viability, offering a comprehensive view of its fundamental strength.
9. VeChain's Recent Surge and Market Activity:
- VeChain (VET) witnesses an impressive 35% surge in the last 24 hours.
- The token becomes the highest gainer among the top 100 cryptocurrencies, accompanied by a remarkable 473% surge in trading volume.
10. Market Predictions and Analyst Insights:
- Analyst Ali predicts a potential bullish momentum for VeChain, anticipating a move to $0.054 in the short term.
- Positive market sentiment, combined with the activation of Account Abstraction (AA), adds to the optimistic outlook.
11. Conclusion:
- Summarization of the technical and fundamental factors contributing to the rapid rise of VeChain and VeThor.
- An encouragement for readers to consider both aspects and conduct thorough research (DYOR) before making any investment decisions.
Note: Cryptocurrency investments involve risks. Readers are encouraged to conduct their own research (DYOR) before making investment decisions.
#vechain #Write2Earn #TrendingTopic #VTHO/USDT $VET
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