VET Long Idea 1H 200,100, 9SMA Cross.
For three days VET has been consolidating around its 200SMA ~ $0.085. VET announced its new regulated stable coin VeUSD. Now as BTC and ETH fall VET is showing strength. There is slowly and subtly divergence between certain small util and promising blockchain protocols/tokens and the large cap coins i.e BTC,ETH.
If given the volatility we can remain over the 200 & 100 SMA I am expecting short term bullish price action if the demand around .09 can continue to take out the supply. Long term I think VET has the potential to steal market cap from other less efficient, less secure and overly expensive payment protocols. Ultimately I believe the large scale institutions will be able to apply and coexist with blockchain protocols that provide solutions to our modern problems such as data storage, logistics management & financial payment, lending/saving/ credit solutions.
VETPERP
If given the volatility we can remain over the 200 & 100 SMA I am expecting short term bullish price action if the demand around .09 can continue to take out the supply. Long term I think VET has the potential to steal market cap from other less efficient, less secure and overly expensive payment protocols. Ultimately I believe the large scale institutions will be able to apply and coexist with blockchain protocols that provide solutions to our modern problems such as data storage, logistics management & financial payment, lending/saving/ credit solutions.
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