VeChain price shows swift progress and has a bullish short-term and medium-term trading outlook as we are seeing today in the latest VEchain news.
The four-hour time frame shows that e bullish breakout from the wedge pattern is taking place and the daily time frame shows that the bearish head and shoulders pattern is still hanging over the VET/USD pair. VeChain is still outperforming the rest of the crypto market as of Monday it made strong double-digit gains and continued with a lot of bullish fundamental news over the weekend.
The VET/USD pair gained more than 20 percent since the start of December and is now trading around 80 higher from the previous November price. The technical analysis for the Vechain price shows that the pair is still performing a bullish wedge breakout on the daily time frame, thus moving the cryptocurrency to a distance close of the November monthly high. The four-hour time frame shows that a breakout above the high in November could even boost further the technical buying towards the $0.01 level.
The daily time frame shows that the VET/USD pair is trading well above the 200-day moving average and the large head and shoulders pattern is still hanging above the cryptocurrency. The bulls have to rally VeChain towards the $0.012 level if they want to invalidate the bearish pattern. If the buyers can invalidate the bearish pattern, the VET/USD pair could even stage a rally to the $0.02 price level.
The Relative strength index on the Daily time frame shows that the cryptocurrency is not in the overbought territory despite the huge double-digit advance in the cryptocurrency and the MACD indicator is also generating a strong buy signal. According to the latest sentiment data, Vechain’s short-term sentiment is standing at 56 percent at a neutral position while the overall long-term sentiment is quite bullish at 78 percent. The four-hour time frame shows that the key technical resistance is located at the $0.008 and $0.01 level while the key technical resistance in the medium-term is located at the $0.012 and $0.02 level.
The four-hour time frames show that the VET/USD pair has a strong medium-term technical support getting close to the $0.006300 level and the critical long-term technical support for the pair that is located at the $0.0045 level.
VeChain Proposes Decentralized Governance Model For VET Holders
“The VeVote platform provides an immutable, transparent and decentralized platform for stakeholders to cast their votes on important decisions based on their voting authority. The voting is done via VeVote smart contracts and the result will be recorded on the VeChainThor blockchain.”The VeChainThor blockchain is a blockchain-based solution focused primarily on improving the supply chain and the Internet of Things and DNV GL partnered with VeChain in July 2019 with the intent of leveraging the technology that can improve Vechain’s quality assurance services. The four points are pending a vote on December 6 make up proposed revisions to the original foundation governance charter.The first round of votes is planned to be stored on the VeChainThor blockchain with a redefining category that provides voting authority and determines which subjects demand an all stakeholders’ vote. The platform can also adjust the voting authority model based on the amended category and simplifying the voting procedure overall.
Microsoft Will Turn Retro Gamebook Into A Blockchain Card Game
“We were going to relaunch the series into a computer game format but this new technology (blockchain), just made more sense. Imagine playing Magic the Gathering but knowing if you owned a card, it really does belong to you. Or if we say there are only 100 editions of an item or skill, you know there really are only 100 editions.”The company plans to use non-fungible tokens on the VeChain blockchain that was associated with the enterprises and supply chain management in order to ensure ownership of the in-game assets. VeChain will allow creating cards and in-game items without the need to deal with all of the ‘’crypto stuff’’ according to Thomson.The tokenization of in-game assets is a growing trend as reported in late November, the Blockchain game F1 Delta Time which is licensed by the world-renowned racing series Formula 1, had an auction of car-branded NFTs. Also, Microsoft will work on another blockchain-related project with the R3 company and KPMG to develop a blockchain for telecom settlements. The latest partnership of the global accounting firm with two distributed industry leaders, one of which is Microsoft– is featured and continues to be the vein of resolving the issues that arise from multi-party connections.
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