Yesterday, VeChain held a huge rebrand/announcement event. VeChain confirmed a BMW partnership, Oxford University partnership, and new dApps...since this was actual news, it DUMPED. This trend is not unique to VeChain, and HODLers are pretty used to having this happen. The question now is...where is the price going from here?
Disclaimer: I am not a professional financial adviser and anything I post should be regarded as entertainment or informational only. In short, do what you want...not what I say.
In short, VEN has a couple of directions it can go. Right now, VeChain is sitting on a few trend lines that will likely converge over the next 2-3 days (Chart and further analysis below):
We've broken under a line of resistance. While this isn't good, it doesn't look to be a cause for major concern unless we break the growth trend-line and the next level of resistance below that incoming. Along with BTC, if the market takes a turn for bullish over the next week, VeChain can follow suit and bounce back up into the long tern up-trend that has been ongoing since early January.
Again Disclaimer: This is not financial advise, I'm just a dude sharing my opinion.
Keep HODLing all!
The full event can be seen here:
